My understanding recently, in the last 2 days, from Leo and Analysts and from the ASX, reading between the lines of all the replies received, is that Leo needs a project in order to resume trading on the ASX again, given all other considerations are now met.
It doesn't matter what size the project is, as long as it is majority owned by Leo.
For example, they could buy a project for $1 million, if they wanted to begin trading, but I'd expect that they would have to make the purchase look meaningful to the ASX, or at least believable.
There are many excellent Lithium projects and companies out there now, with prices well beaten down, trading on very reduced multiples, so it's a good time to buy a project (or company) - cheaply, and then begin trading on the ASX.
Research has uncovered some excellent projects and companies with great potential and results, even in the $10 million to $20 million range, especially in Canada.
Leo will probably buy a project in 2024, and then immediately begin trading thereafter.
I think it's a case of watch this space, but if I was a gambling man, I'd say at a guess that they'll spend $15m to $20m on the purchase of a project and announce it sometime, probably in October or November.
But that's just a great big hunch, because I'm not sure what time frames they are working on.
Gw
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