Years of underperformance due to June 2024 tax loss...

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19/06/24

18:21

Post #: 74396661
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Originally posted by Apuesta: ↑

I wrote an E-Mail to Joe and ask him for an Update....this is what he wrote back to me:

Hi Marco,

Thank you for your email.

As per public statements third party due diligence continues under the Jefferies strategic partner process and we also have ongoing constructive engagement for partnering/finance with the public sector. All associated discussions and negotiations are bound by confidentiality. Yes, I understand how the lack of visibility on these processes is frustrating but it is the same for all businesses at this stage of project development.

What we can say, is that the strategic partner process with Jefferies is being broadened to again consider Chinese offtake and partial funding for the development of the Karibib part of the project to initially produce just a concentrate – see recent quarterly reports. US policy has become clearer since the beginning of the year for this and it is evident that DFC funding can still be secured with offtake going to China, as the US recognises that some supply chains such as lithium will continue to rely on China for many years to come. We just need to be cognisant of the US position on Foreign Entity Of Concern (FEOC).

As outlined in the prospectus, with further cost cutting measures that have been implemented Lepidico is forecast to have cash into CY2025. We also have the ability to place the shortfall under the prospectus until early August. The market is currently under pressure till month end due to tax loss selling, which should then abate. Placing the shortfall would provide cash through most of CY2025.

We will update the market as and when finance milestones are reached.

Your support as a shareholder is greatly appreciated and I can assure you that management is committed to the Phase 1 Project becoming a reality.

Kind regards,

Joe

Joe Walsh

Managing Director

Lepidico Ltd

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Years of underperformance due to June 2024 tax loss selling.

Yahuh.

LPD Price at posting: 0.2¢ Sentiment: None Disclosure: Not Held
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