Great, so we've confirmed there's absolutely no risk to the sale...

Great, so we've confirmed there's absolutely no risk to the sale transaction if Resolution 4 fails.

As outlined in yesterday's announcement (included at the bottom), Leo Lithium's role is now strictly transitional, ending on November 13, 2024. Ganfeng, as the project's owner and primary investor, is building its own management team and has proven its financial capacity to manage the project independently.

The argument that key executives leaving poses a risk to the project is unfounded. In the event that some depart and short-term challenges are created, Ganfeng has demonstrated its commitment to the project through substantial financial investment and has the capacity to address these issues (including potential staffing challenges), noting it is now their sole responsibility to do so given how the project has been handed over. Leo Lithium can also find replacement personnel if needed given they are being incentivized (paid) to do so.

Considering that a company director (Brendan Borg) is sharing this information directly with you through unofficial channels to me suggests that both sides are already aware of this "potential" risk and I assume contingency plans have already been considered. If not, then this serves as another data point for how Leo Lithium is simply figuring things out as they go, one day at a time.

Regardless of how small you perceive the impact of Resolution 4 to be ("slightly more palatable"), it would still unnecessarily increase shareholder costs without providing commensurate benefits. Given the company's recent performance and still undetermined future, it's essential to prioritize shareholder interests and avoid excessively rewarding executives for simply fulfilling their duties or for outcomes that have negatively impacted shareholders.

I'm not sure if you've ever worked in the corporate world, but individuals' performance is often outweighed by business conditions (circumstances outside of their control) all the time. It's quite evident for most individuals this year. Even if you smash your targets and are well deserving of [x] bonus or [y] promotion, it may not eventuate due to bad luck. This company shouldn't operate any differently. Especially since we all went into this with our eyes wide open knowing full well what it was we were getting ourselves into. The risks were identified in the prospectus for a reason.

If these directors have an inflated sense of entitlement, believe they are special and should be treated differently, especially in light of the situation at hand, then they can go. It simply provides insight into their character and what they think of shareholders.

Regarding FFX and its associates, I believe their actions have had a detrimental impact on Leo Lithium, resulting in significant shareholder wealth destruction. Those who have expressed concerns about FFX appear to have sound judgment considering how things have played out so far.