Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-23

Great report. So dense- such a lot to unpack. Our company has been busy and it sounds like our little WA pilot plant is working overtime! There's our answer to why the sudden need for the capital raise- to upgrade the plant and provide product samples to increasingly numerous interested parties.

From top to bottom, everything is "on schedule" and "progressing well," the only hiccough in a 7 page quarter recap being a short cautionary closure of Karibib. So much to be pleased about and to look forward to hearing more of in future ASX releases.

Wonderful to learn that various states in the US are offering Lepidico tax incentives if we build Phase 2 there. How good is that? Narrowed down to 3 locations.

• California? Green state, but also so many EV start ups there.
• Michigan? Considering "sulphuric acid represents the largest single consumable and operating cost" (page 3), Detroit is geographically close to Canada, which is the largest sulphuric acid producer and exporter in the world. The biggest manufacturer is CCC Chemical, located in Toronto. Hey, we have an office there! Toronto is not far from Detroit, but then BASF have a plant in both Detroit and Windsor, Canada- right across the bridge from Detroit.
• Texas? BASF headquarters are in Houston, plus Texas has a growing EV supply line industry.

The really great thing about this 4C is that it's apparent imo that our company is in good hands. Management is on it, with their figurative finger on the pulse of the burgeoning EV industry. Conjecture like above as to what they're up to is fun, but personally I don't lose any sleep over LPD and I sincerely hope this report allays the fears of those who have fretted over our share price, thinking it's an indicator of our value. I'm hoping there's not another announcement this week on the heels of this quarterly, as I'll be happy to buy a few more while we're still in the teens. Not investment advice. GLTAH