regarding the LPD investment:Recap from October 2017:Lepidico...

regarding the LPD investment:

Recap from October 2017:
Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to advise that Galaxy Resources Limited (ASX:GXY)(“Galaxy”) has agreed to subscribe for a 12% strategic shareholding in Lepidico via a private placement at 1 centper share. Galaxy will acquire approximately 292 million shares in Lepidico for gross proceeds of $2.9 million. TheCompany is also offering shareholders the opportunity to invest alongside Galaxy on the same financial terms,through a 1-for-6 stapled renounceable entitlement offer (“Entitlement Offer”) offered at $0.01 per share toraise up to approximately $4 million. The Entitlement Offer is partially underwritten by CPS Capital Group Pty Ltd(“CPS”) to $2 million.

So that 2.9m is now worth 9m or 1% of the market cap. Funny how the market cap dropped 4% instead on the day..

Could the market be any wronger? Time will tell but we can add POSCO 280m USD (Which is now worth 390m AUD due to the exchange rate changes and would expect to be worth more with a strengthening USD and weakening AUD) + 9m LPD invesment + 57m AUD Cash = 456m liquid asset backing or $1.12 CASH BACKING