New Crux Investor Interview, page-12

Interesting and thanks for sharing. Not many companies try and use this approach to communicate to holders when they see the opposite reaction to an announcement they expected to encourage positivity. Holders should be greatful for such information.

While the intention was positive I think in my opinion too much time and focus and the best answers were in the second half targeted at the market and integration. I think LPDs position is easily understood here on terms of opportunity, that's why we have money on the table.

My opinion is the first half, concentrating on the latest updates, could have been more powerful. In particular, the discussion for the changes and delay. Financing was also skimmed through quickly. The interviewer was trying to reshape focus alot.

What is good is that the mining results are a step in the right direction. The resource and the process appear to be sound. I have been to UAE and can also agree that building the plant there is a sound decision and provides flexibility. The problem the company has at the moment is execution risk and changes to debt markets since I last posted on this stock has changed substantially. The market cap has declined respectively to show this. Everything now hinges on funding. Will the company be able to secure appropriate debt at reasonable rates that will allow it to avoid repayments until after cash flow becomes positive? Will equity need to be raised and at what price? Clarity on funding is probably the only way to derisk the current downside on SP. We all know the sector, what we need to know is can the plant be built and will the company be owning the plant once built and not the bank that stole it through receivership driven by a shortage in cashflow.

The companies MC is so low at the moment and funding/execution clarity will springboard to the upside. Once P1 is built and proven everything including the risk dynamics change and will springboard forward further.

I just want holders to be aware that upside potential is huge based on current MC. However holders also need to be aware that risk is also huge at the moment. Wrong funding can and has destroyed many dreams. A great resource, design and plan is nothing until it is built and generating positive cash flow that can pay back its debts. Something that can easily be done with the current lithium price.

Higher SP is all about removing the risk. For risk takers the potential is huge if things go to plan. All should become clear by the end of the year.

Good luck holders.