Ann: Lepidico - Corporate Update Presentation, page-56

So how exactly does one get financing without first not signing an agreement?

An this is half the problem with the last quarterly. They mention that Cs offtake discussions are at a stage to which legal due diligence can be undertaken. Is that not then disclose it to the market who that partner/offtaker is? Cause legally they must have something sorted out if legally finance due diligence is now underway.

Personally I would not be lending a significant amount of cash based on "rear end discussions" or "at a stage" the business id lend my money to is a business that has signed legal offtake with another business for the project as they are the ones in a far less risky position.

Unless the US dcf is just throwing free cash around at the moment?

IMHO I just think this is a twist of words that sound better than a delayed offtake statement. As at the end of the day, thats whats happened all delay, no offtake and no finance. At least at this stage....

Whether offtake comes about quickly or not after finance I couldnt really care. Id just prefer management to deliver a clearer picture to those funding this project.....target dates with no follow ups and re-adjustments are big red flags to me. As if shareholders are delayed and delayed with no news and no direction given with no substance at end of say Sept we are looking at even further eroded cash and even further eroded confidence. Not to mention what a bunch of monkeys we would have running the joint if we havent had any meat since Dec 2021.