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07/05/24
10:37
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Originally posted by fnqricko:
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Bullrush you continually espouse the US as the site where LPD should have sought to build a P1 plant, the question is how long does it take to get approvals and mining licences in the US. Its poorly rated regarding ok's for the sort of integrated structure LPD is trying to instigate. BHP and RIO have waited over 24years to get the Resolution copper mine going. Where were we going to get the lepidolite from to process?. Do you suggest we import to the US from Namibia. The UAE is ideally placed for processing because it is peripheral to the European market, we already have all our ducks in a row, there is plenty of money in the UAE for the right projects. The only problem we have is gaining the confidence of a potential lender / partner. I have tried to second guess in previous posts as to why we have not been successful, (1) Untried at commercial level,(2) heavy reliance on an opaque market for by products (3) current downturn in lithium market (4) stigma against using lepidolite for lithium chemical production, due to poor reputation of Chinese producers regarding environmental pollution. i do agree that the stockpile sales were not a viable option considering their existing grade, and LPD management would have been well aware of that fact, and I do think at these crossroads Joe and others are receiving excess remuneration such we can only maintain a 23million market cap after all these years. I do think Joe in particular has tried his best to date of achieving success for LPD, but success has not been forthcoming in the time frame expected. i don't think we will last to the end of the year without another cap raise if we continue to burn cash at the same rate as previous quarters at around 2 million a quarter. Admin costs are off the scale for this company and its current achievements, large scale investors I have listened to always use admin costs as one of the gauges of the capacity of a company's management to have success in their projects .
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it would be a US based Chem plant not a mine, big difference