This is just marketing drivel. As I said, he's a salesman. LMG has never been in production of MgO. Even by their own admission in past reports they refer to what they did last May as Ore Commissioning.
Scheduling for Mg ingots production in June 2025 has a caveat - subject to funding. Looking at the last capital raise, there will not be an underwriter that will support us so any funding has to be a direct cash injection either by grant, final loan drawdown, investor or selling assets.
We are still uinclear whether the demo plant is ready to operate 24hrs.day. My understanding is that in the last 5 months(since 13th May) they had done some upgrades/modifications to teh demo plant so the question remains , does it need recommissioning?? They have NEVER operated the plant 24hrs/day.
I cannot understand how the Board can sit back, collect their remuneration, watch this unfold and stay silent.
The transparency here is so opaque, it does massive harm to the reputation of the Company(ie our shareholdings).
Remember all this on the 20th when we vote and have an opportunity for a Q&A.
LMG Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
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