LRS General Discussion, page-18941

Question - I have just re-watched CG interview with Jane Morgan from a fortnight ago. Why was money spent on this days before the PLS deal was announced? At the time of the release of this video, shareholders should have been excited by the exceptional future for LRS. Plenty of money to get to FID, work was ongoing planning for one large open pit for the two major deposits with the possibility of extending LOM by another 5 to 10 years, brilliant resource, excellent recovery, operating at around $530, making money at as low as $900 - $1000 per ton, DFS will come out and we'll announce funding shortly thereafter, and going into production in early 26. Buckle up! We're on our way to the moon. A couple of days later I woke up and found it was just a dream, replaced by a nightmare.
What a cruel way to treat shareholders. Reinforce their belief in the project, get them excited - then kick them in the guts with BOD recommending a takeover. Less than two years till production and they want to hand a brilliant project on a platter to someone who will give us cents in the dollar. They told us the four potential funders would not commit until the DFS was released. Suddenly they are not interested in seeking funding. Some think the PFS will not meet expectations. If that is the case we could wait for an increase in Lithium price and then try for funding. The companies who have committed so much time and resources so far know the prospects of the project and have faith in it. If the numbers don't work at the moment, they can sit on their cash until they do. We don't have to be in production in 2026. It would be nice, but not essential. If shareholders were given the choice to keep funding to keep the lights on until Lithium price recovers rather than give the mine away, I am certain most would opt for the latter alternative.