I certainly understand people being unhappy. There was a fair...

I certainly understand people being unhappy. There was a fair bit of expenses this last quarter and it was very clear there would most likely be a shortfall on our part… something that did concern me was the idea of raising in the current environment … all in all it’s now one less stress now.

for proper perspective it’s good to think about percentage of ownership AFTER gov is included.

previously when we owned 45%, our holdings post gov would be:
- gov @ 10% LLL@ 40.5%
- gov @ 20% LLL@ 36%
- gov @35% LLL@ 29.25%

post this additional 5% sell off:
-gov @10% LLL@ 36%
-gov @ 20% LLL@32%
-gov @35% LLL @26%

todays change in ownership has cost us realistically somewhere between 3.25% to 4% of the project profits while reducing our future expenses by 5%.

CXO and SYA are good examples of recent turned developers who had budgets fall short on ramp up… it severely hurts holders as share prices were smashed just prior to the cap raises… and the whole lithium industry is in a much worse place now.

with this news, LLL will have around aud$170m in their personal bank, JV will have around us$100m still… it’s a much better place to be as I was a little surprised with the low quarterly cash numbers in both ours and the job account even after all the cash injections incoming.

Sliding from 50/50 hurt, sliding from 55/45 to 60/40 is in my opinion far easier to stomach…