Btw, there is a post by
@Patience8 on the Trading Halt thread; "
The Federal Government has invested $230 million in Liontown Resources to help secure the final construction stages needed for the Kathleen Valley lithium project."
I want to write something about it here because that thread is nearly dead.
That was fake news IMO. Not fake, but I don't know how to describe it. You can say "lies", or "incompetence", "ignorance",.. whatever you say those ministers were not telling the truth I believe.
Because the Australian Government didn't make any investment in LTR.
Where is that money now?
I've never heard of any mention about that investment in any LTR announcements.
I'm surprised no one told this truth so far. I thought I might be wrong. If I'm wrong I'd apologise, but I couldn't find any piece of investment by the gov. in LTR.
Source of the media release is a gov. site of Madeleine King Minister for Resources and Minister for Northern Australia.
Joint media release with Minister for Climate Change and Energy the Hon Chris Bowen MP.
The Albanese Government is helping secure Australia and the world’s renewable energy supply chains by backing the Kathleen Valley Lithium Project in Western Australia.
....
With $110 million from the Clean Energy Finance Corporation (CEFC) and $120 million from Export Finance Australia (EFA), the government’s investment will help battery minerals producer Liontown Resources secure the final stages of construction of the company’s Kathleen Valley Lithium Project.
The CEFC and EFA investments are part of a $550 million financing package from a group of Australian and international financial institutions.
....
Minister for Climate Change and Energy Chris Bowen said the $230 million Australian Government investment would strengthen Australia’s position along the global battery supply chain.
....
Federal Resources Minister Madeleine King said the project was another example of how the resources industry was leading the shift to a low carbon economy, with support from the Federal Government.
Unfortunately two ministers were bullshitting on that media release IMO. They are both clueless about what is going on. That's a shame for the government.
The money from those two financial institutions CEFC and EFA were going to give that money
as loan to LTR. But the ministers are so clueless they thought that money was given as investment. Very weird.
No one did come up and ask those ministers why they said that. Even LTR management didn't say anything about that, they did not make a comment about it because that would be a big shame for the ministers. I don't know maybe LTR management asked those ministers to invest that $230m in LTR as promised and mentioned on the media release.
Anyway we know that no money was invested in LTR by the government as far as we know.
The government of Australia has not given any support to LTR yet. Not a dollar!
I'm asking to those ministers from here;
Please invest that $230m in LTR or accept you made a mistake and withdraw your comments on your media release.
(20min delay)