Member Info for Laverda

Top tiger 'your money', did you mean 'our money'?

I thought you were invested?

Elcobble, if you hear thunder get off that paddleboard

Stephen, you may be right.

But Hainan took a long time to do their part, I may be wrong but I thought they expected to do their part in 4 weeks, it took 12.

Western businesses have a saying about dealing with the Chinese ' there are no instant noodles in China'.

Also apparently they do not apologise for being late.

Hainan is very Chinese unlike Hong Kong based companies who understand the West.

Stephen I typed that last time, because I expected an extension and within minutes the RNS landed.

If they complete that was very fast, much quicker than the UK.

Hainan only completed mid April.

You would think loaded, but they have the advantage of knowing timelines, it seems like theirs is taking forever too and I am not invested in them.

Both such big sites and resources.

Two of the largest Chinese mining companies working side by side.

Daz, as you know I am the same, but same here, hat eating not expected.

Agree Daz, we have a profitable resource (jorc) as it is.

We have a good safety net with our gold assets.

Just because someone next door keeps expanding their lithium it is no guarantee that we will.

However looking at the drill results to date I am expecting multiples of what we currently have in a jorc, in the ground.

Leo is an excellent comparison to us.

Our mining licence area is very near their size, so time is a good indicator too.

We have additional exploration ground, they will too after they purchase Bougouni West from us.

Only difference is they have opted for two of our phase two flotation plants where we have opted for a DMS first, followed by a flotation plant.

Sash, not if the contract states extend each time by 30 days.

I have asked Kodal if they extend to give more information around this long stop.

For the break fee and everything else to stand up in a legal contract, I am fairly confident that it will have a set amount that the long stop must be extended by - by mutual agreement but also potentially under certain circumstances.

Hopefully if it is extended they give more detail as it leaves too much open to interpretation.

Anything but fools if you look at their accounts.

Interesting accounting though, not quite sure what went on there, large loans when the new company was set up? Loans to the owners most likely.

Yes Merc, I took it that Kodal were not starting until Hainan received their permissions.

So for me this work started, I think 12/13th April. I thought that was what Bernard communicated early on, and why we received the RNS that Hainan had completed their part.

To be honest all this comes back to the same thing, a clear and simple website with the current stage outlined and anything we are waiting for listed. Somewhere to refer back to.

Merc, but Hainan had additional work to do beforehand.

It was mid April when it was handed back to Kodal to set the ball rolling.

Was Hainan on time?

Daz, I agree.

We obviously focus on ourselves as investors, however Hainan, while bringing a lot to the table also benefit hugely from this deal.

A good return if not another crystal was found.

For a relatively small outlay, 30m dollars have the possibility of multiplying the deal several times.

Meanwhile the Mali government get 10% with the option to purchase another 10%.

Everyone is a winner.

Daz, yes interpreting Chinese is not easy.

If their lithium processing plant is in the newly created Freeport this is much bigger than Hainan/Fosun, who are massive in their own right, this is the Chinese government policy, same as our Brexit Freeports.

The EU freeports do not work.

That makes their deal with us even more serious than it already was, because the government will want successful Freeports.

Daz, is the Hainan lithium processing plant going to be in the newly created free port?

Stephen my suspicion is the extension, release date and size of the extension, reasons are in the contract, otherwise the break fee would be weakened too.

James I think so. I think we are at fault a lot of the time.

We clarify what has happened when we get an RNS, quite rightly, but then don't look forward quickly enough.

We knew that the long stop could be extended, but none of us thought to ask the details around this or if conditions for extending are written into the contract.

I have asked if it is extended to include some explanation about how the long stop works, but I only sent this yesterday and it may be too late. It is likely an RNS is ready to go and already signed off.

It would be nice, but most of us are expecting an extension.

I think it will be on Tuesday, I would be surprised if the contract allowed for bank holidays.

Chipleader, 'this will rocket' all of us believe every word you say.

Chipleader, you see where we differ, all you have focused on is the share price.

If you can't learn by your past mistakes, best give up and try and make money another way.

TS, probably rolling is the wrong word.

A predetermined period of extension based on some particular set of circumstances laid out in the contract.