MAN (ASX) Ann: DLE provider produces 99.9% battery-grade Lithium Hydroxide

Originally posted by the technician: ↑

These are the BLM claims I will check as for ASN they document all claims individually in their announcements (quarterlies mainly) . MAN state state in the most recent quarterly they have 3036 BLM claims staked MANPBLM-1 through to MANPBLM3036 in previous announcements MAN states that they access these claims through "targeted leasing" dates are 01/05/2023 08/08/2023 being the latest .

Additionally on the 22/05/2023 MAN announced that they had finalised a Well Access Agreement with Paradox Resources Upstream within this WAA it states that sold the rights to access some of their wells not all and that there was a fee this could convert to claim ownership at a later date with another fee and a 2% royalty if MAN actually found something from memory it also gave MAN 1st rights to the other wells also .

I'm only reading this stuff as it's presented the subsequent sampling and resource estimates were as a result of this WAA - I must say is really good but of business because again from memory MAN did this all for around $180k "I think" it was stated in the 22/05/2023 announcement.

What I found interesting was when I checked in Paradox Resources and its subsidiaries which the gas plant you mentioned is one of them and not next to the wells being entered either . On the same day that MAN announced it had secured the WAA 22/05/2023 Australian time Paradox Resources and its subsidiaries declared bankruptcy on the 22/05/2023 US time articles that were written stated that $50 million in liabilities were owed by Paradox and its extended entities including fees and taxes owed to 2 counties .

When I first came across this I was concerned and was assured that it was all above board and there were no issues I erred on the side of caution and sold my holding . BUT I continue to watch in the hope the story gets better and more definitive ownership is released to market or at the very least Paradox Resources is wound up and MAN inherit the claims regardless.

I will post all the data if you require or you can ask Management pretty much this is why I've asked questions regarding the claims , their status because of this other entity . Not to create baseless issues as others have stated but just to clear up what I see as some points of ownership that MAN state are not there but others state that they've been told otherwise. Remember at no point have I question MANs 100% ownership of the Project which is an initiative only atm and not an asset this is current and I understand that clearly . it's really about the claims that's all .

You also stated that MAN intend to utilised the gas plant to run their proposed pilot plant from this would be advantageous of MAN to do I do have a question though the gas plant is the main source of revenue for the bankrupt Paradox Resources so if it will be utilised for a lithium pilot plant what will happen to the gas plant ? Or is there an opportunity to manage both at the same time from the same site and also if this is the case what would be the arrangement here more leasing for MAN or do they plan to purchase the sight and if so at what cost as Paradox Resources list that site as worth $50 million in asset value .

Anyway again as I said I will check the claims and get back to you could you please continue the civil Banter and we will get to the bottom of it , I so hope so as it could be a wonderful opportunity here for MAN .

Warmest Regards TT

Expand

Thanks TT, greatly appreciated

First of all appreciate your posting or emailing me all the available data, which ever is you preference (happy to provide my email, this is only just in consideration to others here).

I think we should take it from there.

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Ann: DLE provider produces 99.9% battery-grade Lithium Hydroxide, page-164

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