With regard to the demerger, Mike & Simon do seem to stress the...

With regard to the demerger, Mike & Simon do seem to stress the point they want to get it right.

This relates to both the demerger & the JV which are intertwined. With a life of mine of over 20 years it is going to be a long partnership, at current Li prices selling over $3b worth of SP6 pa. I can see why they want to get it right.

Also it is costing us a lot of money to demerge. Although they have only said "millions" if you look at the Illuka/Deterra demerger, the transaction costs were $13.3m and that was just a demerger with no Entitlement offer. In our case Macquarie have gone thru the process of finding a JV partner as well as handling the demerger.

With $13.3m in transaction costs in Illuka's case, there is obviously a lot more to it than the average investor thinks, and we're doing it across 3 jurisdictions. The 3 jurisdictions could not be more different. Mali which is French law based (very different to us) & China (say no more re their legal system).

I fully agree they need to update us on a new timetable, maybe the Notice of Meeting is so close they haven't bothered, If we're not going to get a notice of meeting by mid week I'd like to think they'll update us asap.