LLL (ASX) General Discussion

Originally posted by fooca ↑

For someone "allegedly" (self proclaimed) that has an abundance of experience, an intimate knowledge of the Lithium industry and a deep understanding of the mechanisms and machinations of African countries and their mining laws, you are coming across as pretty naive in regards to the governing bodies of Australian public companies operating on the (in this instance) ASX, which in turn comes under the auspices, rules and regulations of the Corporations Act.

The Trading Halt (18th July) was indeed requested in regards to the DSO.
Quote: "The Company seeks the trading halt pending an announcement in relation to correspondence from the government of Mali relating to plans to produce Direct Shipping Ore."
Subsequently, the Company requested a voluntary suspension pending an announcement in relation to correspondence from the Government of Mali.
Followed by fortnightly requests to extend the voluntary suspension, that lasted up until the 4th September when the Company released an announcement that included information in regards to DSO, the subject of the initial trading halt, but also additional information advising the market that DSO operations have been suspended as requested by the Government of Mali which resulted in the withdrawal of 2023 & 2024 DSO production and sales.

With this information (DSO) now released, the Company lifted the trading halt as it had satisfied its disclosure obligations in relation to the DSO.
~ for your information, the trading halt was necessary when the company became aware of information that a reasonable person would expect to have a material effect on the price or value of the entity's securities.

The 2nd trading halt and subsequent suspensions both voluntary and not at the entity's request was also necessary as the additional correspondence includes correspondence from the Government in relation to the 2023 Mining Code, again, information (when discussions/negotiations are concluded) a reasonable person would expect to have a material effect on the price or value entity's securities.

There has been a lot of conjecture as to why the Company came out of the trading halt and then requested a further halt.
IMO, it is obvious with the additional communications and dialogue with the Government, more items have been included in the discussions / negotiations being, 2023 Mining Code, taxes, Governments 10% free carried stake, ongoing negotiations on DSO and the limbs of the ASX's Listing Rule 3.1A will continue to apply to the information until it ceases to be confidential and an announcement made, including not bowing to the ASX and them getting in a huff -- it is their rules the Company is following -- SMH

Anyone that thinks the issues are confined to just being FFX related and LLL are bearing the wrath of the government, then you need to do a bit more reading.

cheers

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I understand your POV but do you know of any other Mali based stock that is suspended pending further government comms? IMO it's mainly ffx related I'm afraid but it will be sorted, at what cost is the question??????? My guess is we end up with 30%ish but we'll seek to expedite stage 2 + other exploration licences with GF.