I dont think they have a choice. They are in need of cash asap. Without it they cannot progress and stay afloat.
In their latest cash flow report issued on 30/4/24, they had 0.86 of a quarter's cash requirements based on current spend.
So we either support them or possibly see it fail. Fortunately, they have some backing from Mercer which will tide them over for a while and I hope give investors some confidence to part with more cash.
The price of lithium is killing miners. You probably have seen Core lithium have mothballed their operation. There has always been skepticism about clay mining in general and now with prices down 85% or so, the economics of many miners must be down the toilet. We have a lot of lithium but the economics are obviously being questioned.
JLL Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
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