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50.5¢ leo lithium limited

Ann: MoU Signed with Mali Gov & Sale of Entire Project to Ganfeng, page-138

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WoodySpoon

9,665 Posts.

2906

08/05/24

11:24

Post #: 73722107
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Originally posted by Cosmoterios: ↑

As the dispute progressed in late 2023 and into 2024, it became apparent that regular permits
required for the operational phase of the Project were not being progressed and without these
permits, production could not commence. Despite these challenges, the Leo Lithium and Project
team in Perth and Mali supported by hundreds of Mali employees and contractors continued to
advance construction. As the Project is now a matter of weeks away from commencing
commissioning activities, the issuing of permits has become critical. The Government has also
continued to levy customs duties and levies on the Project, since July 2023. Under the Project’s
existing exploitation permit the Project should have been exempted from these costs.

As I stated above, the Malian Gov could make it easier or harder for the project to progress. Its clear from this statement above, they were making it impossible to progress unless a settlement was concluded.

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Once cashed out of Mali the company should pursue the Junta in courts for that cash paid in customs duties and levies IMHO.

It should have been included in this agreement, but you can see how we didn't have much of a hand to play.

LLL Price at posting: 50.5¢ Sentiment: None Disclosure: Held
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