Ann: Lithium Australia Takeover Bid Unsuccessful, page-31

The event was announced by LIT last week and LPD share price instantly popped, as we expected.

I wouldn't begrudge anyone taking a profit today while it's there after waiting so long, patiently for the I'll-conceived and inadequate take over attempt to finish.

Personally though, I'm still on the buy side. This share price has a long long way to go upwards, particularly later this year when the Feasibility Study is released for construction of the Phase 1 plant.

Not to mention the imminent assay results from a number of first class resources that will start coming in at the end of this month.

Also, next month we'll have news of $1.85m extra cash on hand, which should by rights add on to the market cap.

This is probably the most exciting time to be a holder of LPD, and I must thank Griffin for his inadequate and ill-conceived offer, which bred some uncertainty for some, but for me presented a sustained LPD buy opportunity at bargain prices. I now hold a much larger position than I would otherwise have been able to acquire.

The recent events have certainly affected our share price, and locked some people in, who may have needed funds for other things, but fortunately, no damage has been done to LPD progress or assets, so it's onwards and upwards from here. The share price will reflect the reality as time progresses.

We haven't seen much of you on this side of the fence before, fishy. Are you thinking about taking a position now?