Kell all I know is there was ( let me say ) an excursion from a...

Kell all I know is there was ( let me say ) an excursion from a group that filled up a load of lepidolite from the stockpiles. Which I have joked could have been a Chinese lepidolite converter doing their due diligence on the stockpiles…..back up the truck shovel as much as you can before the constabulary turns up and nix you for pilfering…..lol

Going back to the offtake agreements between DL and Jinhui it is my understanding the agreement concluded when Jinhui didn’t continue with their obligations of the Offtake. DL had earmarked the end of July early August 2018 for the next delivery FOB from Walvis Bay. Which did not occur due to the cost of roasting Lepidolite production outstripped the sale price lithium carbonate.
Jinhui had failed in their obligation to purchase all of lithium concentrate production from the Karibib stockpiles, estimated to be 120kt over a 12-18mths period from June 2018.
DL had a growth strategy with the Chinese offtake partner which revolved around the sale and purchase of the remaining estimated 120kt of lithium concentrate which included an option for Jinhui to purchase 15% of DL for C$13m after the first shipment was sent.
DL even granted Jinhui a 60-day extension on top of the original expiration date, but due to the high cost of production verses the sale price of lithium carbonate Jinhui declined the offer and relinquished their right for any compensation after the sunset clause expired late 2019.

It wasn’t until 30 of May 2023 did Jinhui ask for arbitration notice to be filled against Lepidico.

I am not a lawyer yet I am understanding Lepidico’s counter claim will resided with Jinhui’s failed obligations to purchase all of the estimated lithium concentrate totalling another 120kt’s.
Due to Jinhui breaking the agreement of purchasing all estimated supply from the stockpiles, DL was dynamic in their growth strategy and chose a merger with Lepidico.
Instead of crying like a little boy who fell over and scraped his knee (Jinhui running to the Singapore arbitration tribunal) all the while saying it was DL/Lepidico pushed them over and stole their lollies.
DL just got on with it and made lemonade from the lemons Jinhui served up.

Anyhow that’s enough from me.

Good to see ya back Kell, should be an exciting couple of Qtr’s

All the best

LT-B1