Its obvious that this round of due diligence is the start of...

Its obvious that this round of due diligence is the start of another lender or possible lenders due diligence. We have done all this before, as I stated in the last post, due diligence is to find out the in's and out's of the company. Well no one wanted to fund us previously, because of certain reasons we are not fully aware of, I stated some previously that might create a red flag for lenders, but I don't know for certain. What I do know is that management would be well aware at this point what is the main stumbling point for lenders regarding providing funding, but this has not been related to the share holders.

it is also obvious that they need to extend the raise period because response is proving to be poor. as Einstein said "Doing the same thing over and over again and expecting different results is insanity". It doesn't mean you give up you just might need to find a different way.

Just my thoughts but the company folk must be sweating bullets at this stage. I think they have made the raise purposefully before the quarterly, now it seems they will have to produce the quarterly before the end of the raise, it will be interesting to see the cash on hand that is now available and what has been spent previously.

I think this is the last throw at the stumps for LPD to see how successful they could raise cash similarly to many times before. I think it won't be a good outcome and another CR in the future without significant news would be a complete write off.

it's just my opinion but I think LPD will go into voluntary suspension of trading not long after the raise to prevent the share price from being completely obliterated .They can continue with finance requirements at the same time.
What I think should follow from suspension , and not necessarily in the following order,is:

(a) The board should be reshuffled and Joe relegated to a lesser position on the board if he so wish, ( or retire) with a significant pay cut .he has probably done his best but unfortunately the buck stops with him.

(b) Gary Johnson take over as MD with a much reduced remuneration at least initially, its ridiculous to be paying a CEO around have a million dollars for a 23million market cap and falling, at this point Joe could phone in his work load .Gary is extremely experienced and the LPD process is his baby, and he has a motza of shares in the company he would be a breath of fresh air

(c) We have a webcast where a number of questions can be asked of the board and we get some clear cut answers to what has happened and what the way forward is going to be . The questions need to be answered truthfully and not vaguely and ambiguously, not the nondescript bull sh--t we have been getting. perhaps it could also entail the following:

(d) We have some form of consolidation, so we at least look respectable in the market with a sensible number of SOI. Looks better for gaining finance as well
(d) A number of staff may have to be stood down in the hopefully short term only to save further administration costs

(e) Maybe we need to scale down further and perhaps seek funding for a 2 thousand tonne plant or maybe even 1.5 thousand tonne to give the lender more confidence we can scale to this size and be successful. There was talk of using modules to operate the plant in past, but that seemed to be lost in the passage of time, perhaps it could be revived.

(f) With finance secured even at a lower level of production it may then throw the doors open for the DFC finance to come through so we can get the concentrator and flotation tanks going and make some decent concentrate.

(g) We commence trading again and shortly after conduct another CR which would have a greater certainty of success and may be able to be implemented including sophisticated investors