What caught my eye in this report is the Karibib shenanigans....

What caught my eye in this report is the Karibib shenanigans. Karibib being 80% owned by LCN (Lepidico Chemicals Namibia) and therefore, I quote, "not controlled by the Administrators".

It says US$400k (!!) is already owed to legal representatives for the Singapore arbitration with Jiangxi Jinhui Lithium. This is over an offtake agreement signed by Desert Lion prior to Lepidico acquiring Karibib (ouch).

It says if the arbitrator's decision "expected in May 2025" (where's it at?) went against LCN, it would add a further material liability, further smashing LCN (and I assume any value of Karibib). All reads like a very destructive clock ticking since 2019.