Ann: Suspension from Quotation, page-111

I hold a few companies in the Lithium space and am interested and fascinated to follow LTR.

My views are not what most holders want to hear, and I don't really mind if LTR drops in price, stays the same or goes up. It's just interesting to follow.

In my view LTR would have been trading at probably under $2/share at present had it not been for the 3 ALB bids and the Hancock buying.

I feel $3/share offer was a premium price for the stage LTR is at right now, with still some execution risk and some time before they achieve name plate production and recoveries - at least 2 years and minimal profits away.

So the problem with the cap raise is, management did not allow LTR to trade and find it's natural market level before they pulled the trigger. No doubt this is designed to try and keep as much of that ALB premium as possible and minimise any dilution.

But unless they have a really strong believer to support the raise (like Gina and others), then it may be a tough sell at anything above say $2.20 or so as people will need some convincing that the SP will hold up. I presume Gina will just participate on a pro-rata basis to maintain her 19.9% holding.

Here's where it can get frustrating. If there is no large play for LTR - i.e. Gina and/or ALB do not come back with a bid in due course, then the shorters will once again take control of LTR and drive it back down - probably to below $2/share. This is probably about the right value if PLS is trading at say $4/share - but that's for another day.

The shorters are pretty relentless on quality Lithium plays and the ALB bid gave quite a lot of protection against being manipulated down.

Some of the numbers I see on these threads about LTR paying $2 - $5/share in dividends in the next few years are just so misinformed it's not funny. As were the calls for $6 to $10/share takeover price.

LTR will do well in the long term and will pay a nice dividend - probably 5-10% in about 2 to 3 years time based on the $3/share recent price. Perhaps a higher yield after that if they allocate more profits to dividends depending on their expansion plans and capital management program. But they will likely wait until they pay a fair bit of tax before paying dividends as they will want to use / offer the franking credits etc.

LTR do have good management so perhaps they will pull a rabbit out of the hat with the raise but I'm thinking reality will set in and it will be a while before we see $3 again unless a big fish has another crack.

GLTAH - I may join you at some stage if I see compelling value.