LU7 0.00% 1.9¢ lithium universe limited

I have a few questions about the financing and speed of project...

  1. 28 Posts.
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    I have a few questions about the financing and speed of project development.

    1) The company raised 4.5 million, 2.5m$ was in the account. Total 7 million.
    2) According to the prospectus, the company will spend 6.9m$ for the promotion of projects over 2 years
    3) The company plans to send 942k$ rubles to the flagship project Apollo
    4) Here is a list of star management, and their salaries, which are listed in the prospectus (page 104-107):
    Board
    Iggy Tan 96k
    Alex Hanly 270k
    Patrick Scallan
    Jingyuan Liu
    Gernot Abl 72k + 120k
    Fadi Diab 48k
    Vincent John Fayad
    Kurt Laney
    Key personal
    Justin Rivers
    Terry Stark
    Roger Pover
    Huy Nguyen
    John Loxton
    Only those whose salaries are known have an annual total salary of more than 600 thousand.
    We don't know how much the total costs for the entire star team will be. Maybe more than 1 million$ a year

    5) The presentation states that the "dream team" has already launched lithium mining from exploration to production in 3-5 years.

    The numbers don't add up in my head. It seems to me that the money that is there is not even enough to confirm the resource. The numbers don't add up in my head. It seems to me that the money that is there is not even enough to confirm the resource. And the dream team will absorb a huge part of all the money that is so needed for drilling.

    Either not all expenses are indicated in the prospectus, or drilling will take a long and slow time and most of the money will be burned for management salaries, or there is a lot of capital raise ahead.

    I can't understand what made the star team come to work for this small company? Managers aren't even big stockholders. 30% of the company belongs to one person, and he is not in management.

    https://hotcopper.com.au/data/attachments/5609/5609212-b386be97c551d1df3cc46a8d38911952.jpghttps://hotcopper.com.au/data/attachments/5609/5609215-5a171f3f6a532e6251cd6a9b694672e7.jpg

 
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