RE: Update16 Dec 2025 10:10
Reading the comments below.. it is clear that not many, if any, have run a business, certainly not an international business and most certainly not dealt with China before.
The following statement keeps getting quoted:-
" LMLB will receive an initial payment upon loading of a shipping vessel with spodumene concentrate at the export port in West Africa (initially Abidjan Port in Côte d'Ivoire) equivalent to 95 per cent. of the value of the shipment, with the remaining 5 per cent. to be paid following delivery and confirmation at the destination port in Hainan, China."
Facts:
1. The shipment has been loaded and even the vessel has departed.. thus allowing the invoicing of the initial shipment as per payment terms agreed. Paperwork will undoubtedly be in forms of LOC's and will be checked before any such payments are made electronically and quite possibly, to an intermediary bank first.
2. Payment may or may not have actually been physically received into the beneficiary's account to date as it's only been approximately two weeks post shipping. This does not mean in any shape form that 'Payment Terms' have been broken or there is a problem with relating to such.
3. I am unable to read anywhere, in any announcement that the company WILL notify, by RNS, when any such payment physically lands into the beneficiary's account.. Whilst it could be considered a 'nicety' by anxious share holders, it is not a necessity as all the details of the contractual agreement have been met.. so far.
4. If the payment terms are not adhered to, which would then be a breech of the contractua1 agreement, an RNS will be issued.
Anyone who thinks that the payment terms have been broken at this point simply doesn't have any experience in business, especially when dealing with the far east.
Finally, Can we please stop the constant bickering on this board... it really is so childish. Just take a step back at look at yourselves, totally ridiculous.
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