Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-41

The beneficiated ore (B.ore) as is can be sold to convertors in China as is now. LPD have 270k of B.ore with a 0.87% concentration. There are different piles of B.ore at Karibib, starting with piles of 2% concentration. Estimated 30kt.

The company has someone in China for face to face meetings negotiating supply contracts for B.ore coupled with concentrate supply agreements.

It is my understanding the Namibian employees have mapped out and confirmed use of heavy machinery to transport B.ore from site to port. Because of the stockpiles being beneficiated ore comes under Namibian law as value added in country therefore can be exported as is.

LPD will be bootstrapping the Namibian project, showing lenders the project is viable allowing current suitors (DFC) and potential funding partners (commercial lenders) LPD can transition the Namibian asset into income producing.
Allowing LPD to fund their equity piece of the Karibib project derisking the project further.

Sure the Projects timeline has increased further into the future, which I’m not happy about, yet management feeling the pressure of shareholders angst towards not receiving funding as fast as promised has been the impetus for the pivot IMO. Maybe not the only reason but would be close to the top from my POV.

Don’t take my word for it, verify for yourself DDog


LT-B1