I have to say, I don't share the downbeat mood of most investors...

I have to say, I don't share the downbeat mood of most investors here on finance.

As I have said I view our issues to be driven by geopolitics more than anything else, as if it's good enough for Cornish Lithium financiers, it ought to be good enough for Lepidico, on technical grounds at least.

The supply chain is more complex than for Cornish Lithium, however, which is presumably an issue, as is the sheer volume of regulatory bodies across at least four nations (Aust, USA, Namibia, UAE) involved relative to the more simple regulatory framework of a single nation, the UK in the context of Cornish Lithium.

However given it's a job creation engine for Nambia, a economic diversification opportunity for UAE, and a strategic counterpoint to Chinese dominated mineral resources for the USA, it's not like it's in any of those nation's interests to not pull their DD/government processes together ultimately. And it's worth noting the US state department notes on their relations with UAE and Namibia - both are friendly to US interests.

Notwithstanding, while I am fine with long term option incentives in principle, they do seem on the cheap side, and combined with a lack of enthusiasm for more regular communications on project status given the delays so far, I voted against the issuance of options.

Looking forward to seeing if the COP28 sheds any more light on status. I've still got a very small buy order in the market too.