Doubt over whether the discovery is going to end in either a buy out or production. It's in an area that struggles a bit with that. LCL are doing the right things though - engaging the local community, addressing environmental concerns etc. They've pulled back in spending on exploration to focus on approvals and progressing the project through the regulatory hurdles, which is a sensible path. It's a bit wait and see now. If it was in Australia, the market cap would be multiples higher.
Ann: June 2022 Half-Year Financial Report (Amended), page-4
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