Thanks for the feedback @Logzy and @Bayhunter. What I consider the beginning of "management's belt-tightening efforts in 2023" was the decision to suspend our Stage 2 EPCM works until funding is secured, as we were advised in the 1 May 2023 ASX announcement, EPCM Contract Update. Our Annual Report and each of our quarterlies since have included a sentence or 2 confirming the status.
@Logzy, it is clearly not the case that "we have not been doing any development as there is none to do. The tech is done." Lepidico has a long road ahead and obviously we are only at the very beginning of development. The amount of $100K or so saved quarterly in Payments to Director-Related Entities (Development) is paltry in the greater scheme of things, but every little bit counts. No doubt everyone has heard by now of the decisions taken by CXO's management in December, then LTR's in January. Belt-tightening is going on everywhere and personally, I am grateful for the prescience of our management early on in this present cycle, given where the NEV industry currently finds itself. Cautious, prudent, adaptable, innovative.
Hopefully the combination of our finance being finalised and the macro tide turning, both sooner rather than later, will result in a lift to our share price. Perhaps then executive remuneration won't feel so salty on the wound of our presently ridiculous market cap. BTW $200K a quarter in Remuneration and Directors Fees (itemised in my post above) totals only $800K annually. This is far from exorbitant. Also @Logzy, for what its worth, in these trying times, I far prefer the frugality of directors receiving options partially in lieu of salary. (The present financial year's are outlined on pages 17-18 of LPD's Notice of Annual General Meeting.)
Thank you for the welcome back, gang. Haha, @MusCabout. Indeed, I was intending to skim over the threads, but haven't yet. Am a bit afraid of what I'll find! Many have expressed hope that macro sentiment will lift post Chinese New Year, which I believe begins 10 February, then runs for 2 weeks. Shanghai Metals Market's lithium product prices seem to have stabilised recently, as have the market caps of most ASX lithium related companies. I'm grateful that, for the most part, my trodden down handful at least haven't continued the descent. End of Feb is within spitting distance, so hopefully we'll soon see interest and $ come back into the sector and as importantly, receive positive LPD announcements on strategic partners, funding, sales of our beneficiated stockpiles and assay results. Good luck to us all!
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