The reason the SP today is not higher is because of the statement by LEL management that funds from the sale “may be used to look for investments in the mineral sector”. That means having sold off all the LEL assets, management want to keep paying themselves at shareholders expense. There is no other current deposit to develop once our graphite and lithium holdings are sold.
we the shareholders need to be prepared to vote down this cash splash on their personal gain at the next meeting. I for one with my 1% will vote for the return of all funds to shareholders and the shutting down of LEL. Investors committed to LEL due to those two assets which will now be gone. I am beyond annoyed at LEL management thinking the can indefinitely ride the shareholder gravy train.
Ann: Sale of Solaroz Lithium Project for A$97 Million, page-85
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Last
37.0¢ |
Change
-0.005(1.33%) |
Mkt cap ! $41.44M | |||
| Open | High | Low | Value | Volume |
| 37.5¢ | 37.5¢ | 37.0¢ | $11.81K | 31.94K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 42185 | 37.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.0¢ | 10374 | 2 |
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| Last trade - 14.17pm 05/07/2024 (20 minute delay) ? |
| LEL (ASX) Chart |