Ann: Merger & IPO Spin-Out of LEL and NVX Natural Graphite Assets, page-132

Just a silly question.

what's the real point on spinning off Axion. LEL will only have 25%.

now that Solaroz is (?) cashed up. Why don't run Axion Limted owned 50% by LEL and NVX. As LEL will now have cash, NVX put 1/3 of cost, LEL 1/3, 1/3 from government funding and this project kicks off quick.

PFS has been purposely retained by LEL, this was ready for Q4 2023.

I do get we achieve economy of scale by JV with NVX.

both companies can CR if needed but reality cash is there to keep under LEL with 50% ownership.onstead of 25%.....

they are going to slaughter LEL otherwise...