Who's selling?, page-167

Pcaruso,

I originally bought into the company last year based on the lithium potential and the income to stop further dilution. This announcement was the catalyst for my first buy on 24/11/14.....

"At this stage, the Company still expects all the necessary approvals to be in place to facilitate the
commencement of production before the end of 2014.
The mine camp installation on site has been completed and the processing plant is in the commissioning phase, awaiting transport and installation to site once final approvals are received."

I bought, the price went down a bit, and 3 days later they issued a 'correction' to the above.

I kept those original shares at 4.3c and was not an overly happy camper, but most of my reasoning was still mostly intact.

Here we are over a year later and the TT permit will be available any week now, though I do believe we are a lot closer than last year, but that announcement meant to me as time has gone by, that management do not understand enough about the mining approval process. Hopefully the new CEO does, he has experience, but the last company he led has made some terrible mistakes.

I believe that just about all the lithium companies are no brainers, such is going to be the demand for lithium with new technologies that will use massive amounts of batteries compared to current use, which will lead to price rises to unbelievable levels as product becomes scarce.

The single most important aspect of this company is to get to mining lithium ASAP while prices are high and rising. Finally getting TT running should be that huge boost to investor confidence. However whatever way you look at it, it has cost 3 cap raises and dilutions to get there. That is not a good signal to the market.
Financing is scheduled for q4 2016, far too late for my liking. With all the MOUs, we should be talking turkey as soon as the resource is fully refined. With 6 of them wanting product, it should be a walk in the park to get decent proposals by mid-year. If not then something is wrong.

My personal beef is that we have huge super funds in this country with billions of dollars coming in each year, yet none of them would invest as a silent partner for a percentage of EBIT of the operation. Instead they invest in a spread of shares to mimic some index.