Ann: Strategic Investment by Lithium Royalty Corp, page-38

I wonder if they approached banks for debt funding. Usually you only go to these royalty companies as a last resort once everyone else has rejected you. It's an interesting move.

I expect they first went to bank and funds, and were either rejected or didn't like the terms, so then they decided on either a capital raising with large dilution or some other form, like the royalty stream.

Interestingly, the announcement did say that they were approached by the advisors, rather than the other way 'round.

I waited patiently this morning, the sell down was slow, but finally grabbed a few, and now I'm back in. I first invested in CXO about 2 or 3 years ago now, they have been very slow with exploration but finally seem to be back on track. Nothing has ever happened quickly with these guys, endless patience is sometimes required.

Still, the location near Darwin is good, and the transport costs are minimal, and almost nothing when you compare it to those in African land locked countries like Mali and Congo, where they have to move the stuff over 1,000 km through hostile territory to port.

And I reckon this would be a great little project for a major to takeover, and to even build a Hydroxide plant in Darwin, good for the NT and a perfect location for shipping and distribution.

Anyway, good luck to them, it would be such a buzz to see a small group like this in production, and the NT government is right behind them.

Gw