Ann: Gold, Lithium and Nickel Exploration at Comet Vale, page-4

To add to the above, personally I'd prefer LRL to walk away from the Canadian assets right now and concentrate on Comet Vale whilst looking for another project or jv close by.

They could abandon the overseas project prior to having to pay around $600k in a weeks time and retain around $2.8m in cash. They would also save around 20% dilution which going to drop at the end of December to fulfill their purchase obligations that were reset a few months ago to make them less onerus on LRL.

All up between cash and dilution, the company is forking out around $2m by then end of the year. There will be no further obligations until they start production when they need to give G.E.T.T. 4050 oz of gold, or around $12m.

LRL are years awy from production and it will cost plenty more cash and ultimately dilution to ever make a dollar from the project. Best to cut their losses and return home where exploration can be undertaken 365 days of the year and with less red and green tape than Canada currently has.

Getting a company to admit a mistake and set a new path is almost impossible as egos get in the way, but right now the economics make no sense when coupled with the time factor. Both work against shareholders interests at this stage. We basically live hand-to-mouth and have no capacity to raise enough funds to do justice to the Canadian interest.

So before spending any more precious cash which was raised at such a low sp and issue more cheap shares, just return home and regroup. Do what they said they'd do at Comet Vale and get back to basics. Broaden the WA asset base to include critical metals even if it means via an acquisition, jv or merger.

Can't imagine the board would have the guts to backtrack but sometimes you have to admit things aren't going to plan and make hard decisions. If they say everything's going well then they should stand down because it clearly isn't.

When you find yourself in a hole, the first thing to do is stop digging.

Just my opinion.