Ann: Corporate Presentation Update, page-77

All good Q’s @triage and I am not the best by far to answer the Q’s raised, yet I will have a go.
I would also like to add that until now I really Didn’t pay attribute for capital costs to the 20% stakeholder of Karibib, and rightly should have been a consideration from the 20,000 ft lens.
Call it complacency incompetence or oversight on my behalf concerning (from the surface) what looks like a substantial part of the finance component should be garnered from the stakeholder. Yet as you have laid down and I am in the firm belief you are correct, the stakeholder is carried by LPD (Namibia Co.), and as such will not be required to stump up any cash from the Karibib mine infrastructure.
In stating that I would like to add a caveats. The first being LPD is into closing (IMO) stages of the finance component for the Karibib portion.
Secondly I would think the viewer would greatly appreciate the nuance of the structure LPD has set down with Karibib Stakeholder concerning the minutia of the ownership arrangement, concerning %’s of revenue dispersion from the “CONCENTRATOR” and not from any revenue created further down stream.
So on a closer inspection, the concentrated ore from Karibib is priced and sold to LPD chemicals (Abu Dubai Co,)
From the ore sold, LPD (Namibia Co.) pays the stakeholders a portion of that revenue. e.g. Tax to Namibian Government and 20% to stakeholder. Befor tax after tax I really couldn’t give a freckle, the margin for ore regardless if pegged to the rising lithium pricing is only a small fraction in the total. As it’s the chemical processing which delivers the (desert) lions share of revenue. Which the Namibian stakeholders have no claim.

Not sure if I have answered your questions, and happy to be corrected by the brains trust.

All the best in your discovery and further discussions.

LT-B1