1.5 centsToo much overhang of sellers wanting out, hoping for...

1.5 cents
Too much overhang of sellers wanting out, hoping for higher prices approaching 2c. Whereby, they eventually despair due to 'no significant news' related to forward financing -baring the deal done with Acuity Capital for $7.5 mill., which involves 230 mill shares as collateral. What is needed is news related to LoH-Max, Namibia MRE for the feasibility study due the March qtr., and some strong indications for 'off-take' agreements to be able to have a Bankable Package so management can get the funds to build Phase 1 Plant.

At the moment, with too many days of time-slippage, and the market reaction to the non-event of the Li2CO3 Pilot Plant trials of L-Max, it can be forgiven if some shareholders are expecting a similar performance for LoH-Max. If this is the case, then those selling at the moment and those fearing the worst, lose whatever minute confidence left, then its not going to take too much volume to drive the price lower as buyers withdraw their bids. Today's was a good example of that.

Last week we saw the buy side of the market demand a greater volume of shares than those on offer, however trade today saw that reversed: a difference of 8.66 million swung across to the sellers. Effective demand held better, but is damaged compared with last Fridays position.

Demand falls away very quickly as events disappoint, and expectations for announcements over the last few months are not being met by management. Either they have been too overly optimistic in their time-frames or their calculations have not accounted sufficiently for events over which they have no control; in which case they should have extended the time-frame for unforeseen occurrences.

By doing so they would seen as successful in over achieving rather than being seen as under-performing in this respect.

Speaking for myself, they must soon get some very positive outcome on the issue of where the finance is coming from to get P1P up and running to operate LoH-Max.