Ann: BEL: Disposal of Rare Earth Tenements vis Sale of Subsidiary, page-83

@wadsworth Hello. Unfortunately, your posts here will scare people away from buying LEL. About SRK's WA iron ore project, how can there be a "conflict of interest" when the project was sold to an unrelated 3rd party? Obviously, the impression is SRK was struggling to bring the iron ore into production. Obviously, the impression is SRK was struggling with cash and at 31/12/23 already had $14 million in liabilities. So SRK sold Paulsens so they could repay the creditor their $10,547,778 loan.

SRK said the sale of the iron ore would result in them not needing to sell LEL shares. During 2023, SRK sold around 3,400,000 LEL shares.

So you are complaining about SRK selling Paulsens so SRK would stop selling down LEL shares? This is illogical.

As for the Paulsens iron ore deposit, it does not look sexy to me. The strip ratio looks high. It looks high cost. It looks like SRK couldn't finance it anymore.

The problem here is YOU. You buy shares in companies with MARGINAL projects.