Ann: Application for quotation of securities - LKE, page-15

Hi dug its a struggle between the positives and the negatives. On the positive side LKE has a number of lithium projects a revolutionary extraction process and a plan to reinject brines thus not depleting the aquifer and producing lithium at 99.97% purity. If this all works out LKE will sell for many multiples of its current price. Plus LKE will be selling its high purity product into a lithium hungry world.
The negatives thrown up at this stage have all been answered ie the board itself was supposed to be a negative but research indicates that the board is high quality. Use of water was an issue but modern recycling techniques are the answer to this. Financing the project was a problem but the injection of $20 million into the project has answered this.
Pretty well all the negatives within LKE's control have been answered. There are the negatives beyond LKE's control such as sovereign risk but sovereign risk is over blown as the rating of sovereign risk is more about a countries likelihood to default on debt rather than a country doing nasty things to individual companies.
Steve has been criticized for selling his shares but the real indicator of does this matter is the market which responded with a yawn and a buy order. Steve's pattern has been to sell his shares over time and it has never produced a bad reaction in the market. As I said before I was in a company where a director regularly bought shares but that didnt stop him from selling company assets to his friends for about 1/3 of what they were worth.
Sorry about the rave I really just wanted to see my new avatar.
LKE selling at 36.5c Im still pointing out to friends that I think this is a bargain price.