1m 22s"The next stage of development for this project is to take...

1m 22s

"The next stage of development for this project is to take it from Scoping Study stage through Feasibility and into production. Obviously this requires a fair bit of funding moving forward.

With this in mind, about 8 months ago we started a formal process to identify and talk to potential strategic partners who might want to come and participate in the project. Those discussions have been going very very well. We were initially approached and we've also approached some international major players in the battery minerals space. And over the course of the last 6 months through this process, we've got down to a shortlist of companies.

So far we've received a number of indicative non binding proposals which we are currently evaluating and we are looking forward to, in a fairly short space of time, advance those discussions and potentially get to the point of receiving one or more binding proposals that we'll consider. These are proposals to ideally come and participate, invest in the project and work with us to advance it but we've also incidentally received some offers to buy the project outright. So we are considering those as well."




Noone believes this!!! I am just as cynical as Adam A.

Even if they got half the multiple of the recent Tecpetrol-->Alpha Lithium takeover (~$AUD32/t LCE) that would equate to ($32 * 3.3Mt * 90%) ~95m or nearly $1/share... And why would they not accept it if they had any offer on the table right now. SRK (30% shareholder in LEL) is selling its crown jewels for peanuts however shareholders have to vote on this on 6 March. I'm sure SRK hodlers would prefer an outright sale of LEL or Solaroz to this. So there should be every incentive for a rational management to get a deal through before 6 March.

However taking my cynic hat off, if there were no deal in the works they would have done a cap raise by now. Cannacord or Petra would have already knocked on their door and said "we can help you raise at 30c" but the Company could have said to them "we don't need to" which in turn could explain why Cannacord have been big buyers of stock since 30 Jan when the "5 bidders" disclosure up.

I'll still be one of the first to congratulate the true believers if something comes through though.