@Haplo I am lost for words. We are very close to get lenders on...

@Haplo

I am lost for words.
We are very close to get lenders on our neck and MC is putting mining proposal to give them more concerns?

I still suspect that this "strategic review" was forced by Tribeca not MC "wake up call" so is delay in JV.

Yes, there could be more good quality lithium in extended application but at present our top focus should be to get more funds either thru additional sales or lower production costs (fines).

Fines application was withdrawn and no sign of offtake being "finalised" ????

Cancelling fines, trowing money on name change, appointing additional staff was not what many experienced managers would do in declining demand and going down prices.

IMO, there is small chance for Tribeca to call administrators before September as with last 2 shipments our bank balance and spod on hand ready for sale can't support this unless they use slowdown in production or have strong proof that we can't refinance our loan.

We may get 3 months retrieve but all depends now what our BOD will decide now and what their plans for survival are.

With possibility of CR, we either chip in or lose the lot.

Up to date top 20 will be a great indication who pulled out in the past 2 months to be sure that all this current situation got everyone by surprise and totally unexpected.

As for TO by GXY if is small cash/bigger scrip I am not sure how this would be accepted by SGX holders as (IMO) GXY is not listed there and many may not be happy to open ASX accounts.

I never mentioned this before due to very high speculative nature and my stupid thinking, but in past several weeks my fear was that (in case of administration) BH could be sold by lenders to a private consortium which can put mine on C&M and in very near future ( once lithium demand goes up) float BH back on ASX.

As I said this is a huge and unsupported speculation which at the same time can't discounted or ignored taking into account latest notice.