Hi Loisl1978,I’ve taken a week to read recent news, plus AGM...

Hi Loisl1978,

I’ve taken a week to read recent news, plus AGM resolutions, plus watched recent promotional interviews by MD.

MD has said in the interview that hydroxide (not carbonate) is now the main focus and so LOH-Max (not L-Max) is the bread winner. Rightly or wrongly the AGM vote appears to give away 25% of future license revenues (to Lepidico Ltd Chairman et al) via LOH-Max trailing royalty.

IMO the independent report is very weak. It seems to provide opinion on the royalty rate but declines to provide shareholders with an independent opinion on the value of the transaction to related parties (as req’d by CA s219(2)). AGM resolution 10 then seeks permanent shareholder waiver for disclosure of all future related party payments. Yikes!

Market might be a little surprised/cautious in the lead up to AGM given the stuff ups with L-Max and now the portion given away to the Chair via the Bright Minz trailing royalty.

I still hope the vote passes because a little bit of something (LOH-Max) is better than 100% of nothing (L-Max).

Fingers crossed.