This capital raise is an important element underpinning LPD's...

This capital raise is an important element underpinning LPD's strategic direction. It enables to company to not be bound by a potential investor whose motives appear to be different from that of the Board and the preference of existing investors.

The temptation to accept the easy money, but fail to secure project finance, exposes LPD to asymmetric actions by the new investor, who will wield undue control over future decisions. Existing investors will be the eventual losers.

The BoD made the right call to reject any sub-optimal offer and to continue to pursue whole Project funding through the US DFC and other funders being pulled together by Lions Head Global Partners.

From 2016, the Board and senior management have continued to focus on the development of the unique hydrometallurgical process to extract lithium from lepidolite and other mica pegmatites. In the final lunge for the line, it is prudent that it doesn't trip on a bone thrown by an opportunist.