LRS (ASX) Ann: Full Year Statutory Accounts

Originally posted by Brad77 ↑

I was just hoping management would be smarter that’s all and take advantage of the new laws in place and their sheer mass of land holdings as a carrot on the stick to companies needing lithium for the expansion of their future projects.

Argentina is still a gamble and it may still take time for foreign investors to trust the government and for good reason.

Having said that I understand where the locals are coming from and they don’t want to be used and abused and end up with little more than a dirty backyard.

It’s good that Argentina has a new president Mauricio Macri and he has lifted the 5% mining tax and has also dissolved the prohibition on foreign mining companies sending profits made in Argentina outside of the country which basically killed and hope of foreign investors and Argentina can thank their last president Cristina Fernandez for that.

We could also thank her for that one day as her way may very well pave a strong future for LRS as they were setting themselves up in a country with a lot of resources but not chance of interest from any foreign companies.

What company in their right mind would want to set up and spend all that money only to be at the mercy of the government that legally could walk in and talk everything as in infrastructure paid for by a foreign company.

Thinking for the country and people she was right in doing what she did to protect the country but as an investor not so good and she was to hard on the laws and the new president seems to keen to please foreigners which could also prove to be economically unviable.

The future of Argentina and its lithium is to be seen but I feel it’s still working it out and it’s important for the people to feel as though they’re getting a good deal here. It’s funny when we think of a country as Argentina we think possibly corrupt and easily swayed and third world yet it’s Austraila that’s corrupt and very fast becoming third world and our Government is shocking and there is no connection between the people and government here as it is in other countries and that’s the western way and our own arrogance.

They’ve also consolidated their permit application register now as well which allows for a fast track for approvals, whereas before you had to go through federal government and passed by the judges and then sent through individual proveniences, I believe now is handled through one mining committee and not many little ones with their own twists and turns slowing up applications.

Again I’ll say from a outside prospective LRS are in a good position and could potentially become one of the largest hard rock producers in Argentina.

But to do that you do need good management and to be honest and as I’ve said I don’t know all the ins and outs of their dealings but from a progress perspective management aren’t doing such a good job and they are ready crap at being more forthcoming with honesty and news to the ASX.

Can CG turn this around, yes! Do they have the money to mine? I’m not sure. Are they working on a huge JV? Who knows.

We all know this could explode so easy on some positive news because of the sector which is why we sit.

It’s very possible we could be sitting for some time though and that’s where we are frustrated as lack of true updated news and unmet promised progress and a real concern is money.

Waiting, waiting and more waiting!!!!!!!!

Let’s just hope Cristina Fernandez doesn’t rally the country and get back in because if she does she’ll destroy the lithium trade of Argentina and then we’ll be screwed good and proper.

Enjoy your week HC.

Expand

Everyone is concentrating on the lithium, but copper will play a huge part in the EV revolution and the copper JV with First Quantum could be huge.

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(20min delay)
Last 17.0¢		Change 0.010(6.25%)		Mkt cap ! $560.2M

Open	High	Low	Value	Volume
16.5¢	17.0¢	16.3¢	$449.2K	2.707M

Ann: Full Year Statutory Accounts, page-73

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