Ann: Lady Grey Lithium Project Site Visit, page-47

backslapping each other alright that we can both agree, getting a whooping 667million shares at 0.003.

My question is, if it's so good, why did directors offer a whopping 667million shares to "sophisticated investors" at 0.003cents causing huge dilution for existing shareholders and raising minimal cash at that low level with the large issue?

Don't tell me because the sophisticated investors didn't want to pay more than 0.003cents? Is that possible?

Ok, so now LNR have well over 2 BILLION shares on issue and not a lot of cash from that big cash raise?

So ok I'll leave it at that , I don't know why they issued the sophisticated investors such a large amount of shares at 0.003cents, probably noone does here also.

They had $5million after the other CR at 1.4 cents and most of that went on drilling SA Murraydiam and WA and not the best results there

Sure exploration is a tough game, we all know that, hopefully success comes after a long hard road, but I personally see a further CR and consolation of capital in my humble opinion, not negative,just what I possibly see coming .

But as you say we are adults and can manage our own risks etc as this is exploration.

Good luck to the board and shareholders new and old.

cheers