As I said yesterday, I do not see most of the crazy and...

As I said yesterday, I do not see most of the crazy and mendacious posts, but from commentary of others I understand the old chestnut about capital raising etc is being circulated. I'm pretty sure there would be so few readers left that might feel any influence from such absurd propositions, but just in case some want more reassurance from our management I commend people to reread the 2 July "Long Term Funding and Strategic Partnership" presentation about the LGES Convertible Notes deal (HERE).

So as at end of June 2024 LTR had $122m cash on hand. They then received $379m of new funding into their bank account on 4th July making a total of $501m cash in bank. They stated there was $120m of budgeted expense to complete and commission Kathleen Valley. Therefore around $380m of cash was then available to fund working capital during ramp up to 3mtpa planned run rate plus early enabling works for ultimate 4mtpa future target on a 2027 time frame. Expenditures during ramp up means costs incurred for labour and other operational expenses which will commence being offset by revenues upon first ore shipments. Through the ramp up, revenues will become regular and gradually increase the level of cash receipts to offset earlier working capital outflows. As we can now anticipate price increases for our product will approximate the budgeted levels forecast or better than that at the time of the funding deal, there is no prospect of that cash being extinguished.

During October shareholders will be provided with the quarterly report to end of September 2024 that, with commentary, will give us a complete picture of the operational performance and the cash position and forecasts of inflows and outflows for the next quarter. There is zero reason to take any heed of FUD from "know nothing" posters on here. As it says in the classics "do your own research"!

regards
DF