I agree it is interesting to explore the relationships between...

I agree it is interesting to explore the relationships between PPKME, PPK and LIS. What is the relationship between PPKME and LIS post the demerger of PPKME from PPK? Is PPKME a prospective customer of LIS batteries?

What I did find interesting is the following financial connection between LIS and PPKME (i.e., not PPK), which can be found at the top of page 60 of the most recent LIS annual report in the section Note 26: Events subsequent to the end of the reporting period:

"On 14 July 2022, LIS loaned $1,400,000 to PPK Mining Equipment for a period of 12 months at 8.0% interest. The loan is secured against a property in Mt. Thorley, NSW which was independently valued at $2,000,000."

I can understand why PPK might issue loans to PPKME. However, does anyone know why LIS has issued a $1.4 million loan to PPKME? Was this potential use of funds identified in the LIS prospectus? If the loan indicates a deep and complimentary relationship between LIS and PPKME whereby LIS might supply its batteries to PPKME in the future, would it not have been advisable for the directors of LIS who saw fit to approve this loan, to outline the nature of such a relationship with PPKME in its annual report rather than remain silent? What are odds that LIS becomes the proud owner of a property in Mt. Thorley and I wonder how reliable the valuation of $2.0 million for it is?