LRS General Discussion, page-18817

Whilst, directors are always positive in public, that may not always be realistic. I am disappointed that the directors did not fight for a better deal. Lets face it, PLS came to LRS looking for a transaction.

In respect of BYD, they may be an interested party for the same reason as PLS. However with them building conversion in Brazil there would be a strong business case to acquire a resource with a long life to integrate into their operations. Given the fact that the asset is in Brazil, I have no doubt that the FIRB and the government would approve the acquisition, albeit not to constantly been seen as anti Chinese from an investment perspective. Once assets like LRS are acquired by a tier 1, it is unlikely that they ever come back onto the market. For any other potential acquirer, it is simply now or never. Hopefully we see an improvement in the market as a whole over the next 6 months !