Very optimistic of you. Most of the money on hand at the moment is JV cash (which can't be used for their hydrogen operations nor management/admin payments - correct me if I'm wrong) A CR is due. Most of us holders were optimistic the board will work to getting the 4c options in the money which is now a pipe dream. A CR at this price will cause massive amount of dilution and add unnecessary supply into the works. A simple 3mil CR here is more than 30% of the register now... We will need close to about 12mil in capex (from memory) or 6mil if they go with a 50/50 JV partner for he hydrogen. You can see the problem now that this is going to a diluted drawer burner or leading into becoming one... Needs something to happen ASAP.
LIO Price at posting:
2.2¢ Sentiment: None Disclosure: Held
