Member Info for ACKER

Come on George at least let shareholders know who we are in bed with over at the Li3 project.

Acker

Down again

$1455

Acker

Bring it home George.

Acker

Martinigirl

I'm going to push ahead with the acquisition on the basis that the CEO has always talked favorably about this project, I cannot see him passing up this opportunity.

I have a weird feeling that this is exactly the reason why Canmax did not call for the 1.5m loan repayment.

Add to this the thirst Canmax has for lithium, would Canmax let such a lucrative mine go to others?

Just my thoughts.

Acker

Adam2479

He will call for an EGM in January, and if so, he will be successful.

Acker

Putting down a bet that Prem has used some of the last placings to acquire the Li3 50%.

Running a close 2nd is Canmax.

Prem is a favorite with a Li3 Canmax finance package.

Acker

From the annual accounts :

Important to note is the progress at our claims located in the Mutare Greenstone Belt in regard to which Li3 Resources Inc has completed an earn-in to hold 50% of the ownership of the claims. Exploration activities are underway and early results are most encouraging. It is too early to predict an outcome to these activities, but certain of the claims straddle pegmatites that follow from neighbouring claims with a mine under development. I would not be surprised to see another pilot plant construction like Zulu under serious consideration at this site before we next report annual financials."

The accounting year ends 31/12/2023--timing rather a big coincidence.

Acker

Martinigirl

From the last subscription:

"The Subscription has been arranged within the Company's existing share authorities. Premier intends to use the proceeds of the Subscription principally to assist with the ongoing mining operations at Zulu including the necessary works for installation of the 55 tons per hour ball mill with its associated structures and general working capital."

George has used the word"principally" rather than "exclusively" you are well aware of his wordings in RNS

Acker

Martinigirl

I am not ruling the old boy out of the equation just yet.

He may have used some of the last cash grab to secure an acquisition of 50%

LI3 does mention a" nominal amount" which leads me to believe the transaction was not at arm's length.

Time will tell

Acker

Jag

The mention of "nominal fee" suggests Prem/Canmax is involved.

Who knows what is involved, interestingly, there is no RNS from Prem.

We will find out shortly.

Acker

Did Premier have the first option to buy back the 50%?

Has Canmax acquired the stake thus enhancing its working relationship with Premier?

I recall the CEO being very keen to get LI3 moving, Stark confirmed talks were taking place about developing the site.

Acker

Extract from the Li3 press release;

"As the Company lacks sufficient funds and management resources to simultaneously undertake work on

both its 50%-owned Zimbabwe Mutare Lithium Project and its 100%-owned Nevada Northern Lights

Copper Project, it has made the difficult decision to disengage from the Mutare Lithium Project.

Accordingly, the Company has disposed of its 50% interest in the Mutare Lithium Project for nominal

consideration. This will relieve the Company of further funding obligations for the Zimbabwe project and

allow it to focus its resources exclusively on its 100%-owned Nevada copper project going forward "

Acker

Morning all

$1470

Acker

Leave CEO where he is.

Wrong time to start rocking the boat.

Acker

OK, I give up.

I don't know who is selling, or who is buying.no clue what is happening, will just let it run its course.

Acker

Why

If it concerns you so much just put me on filter.

Acker

Will it ever turn?

$1495

£1182.84

Acker

Nhjj

Upon reflection, you are probably correct.

Acker

Martingirl

Yes, if called, it will be close.

I would like the CEO to defer loan repayment until May/June, he can have his interest.

Canmax has recently awarded the CEO another 5M and has been very considerate of the failure.

I would like to hear from Canmax.

Will it once again be the shareholders to the rescue, repaying his loan?

Acker

A list of blackprint transactions from yesterday is now available for examination.

I would bet it is Goddard selling, needs the cash, and wants all shares sold before any dilution from an EGM.

If EGM called I think the CEO will get his money.

Acker