Ann: Change in substantial holding from MIN, page-29

Gina didn’t necessarily screw over the holders of Liontown, Liontowns stock price pre Albermarle bid was around the $1.50 mark, and that was with lithium pricing better than it is today, so it only makes sense that when Albermarle pulled their bid, the share price would retreat and potentially retreat further than pre bid due to the falling price of SC6. Gina made the potential take over more complex for Albermarle, which in turn led to Albermarle pulling their bid due to increasing complexities. Now, how long was the Liontown SP around the $3 mark? How much opportunity/time did holders have to get out at the same price they would have received if the bid went through? Well the answer is - they had plenty of time. If you’ve watched companies in the lithium sector go from explorer to producer, you would know that construction and ramp up bring a high level of risk and volatility in the SP, it is a long process and in Liontowns case a massive underground lithium operation that to my knowledge hasn’t been executed before on this scale, a lot of questions need to be answered and we won’t know those answers until we see the progress, recoveries etc through updates and announcements, so inherently there is execution risk. There is much more to blame for all lithium stocks being down than CE and Gina.