Originally posted by 13th
LPI clearly forgot to get the memo.
The company has been extremely poor at market engagement beyond their inner cirlces, with this really getting worse since the old CEO departed. Whilst Marty is quick to get on Twitter to voice his support, the business and he would have to acknowledge that this is really pointless when he has been selling down on market at recent lows pre DFS.
Whilst i acknowledge it makes sense to appoint the MSB CEO to LPI with the Chilean asset being the main game, we are still yet to hear from him in any real capacity???
No roadshow, broker presentation, market update??
I also believe the company has been very poor at progressing their other hard rock assets in Australia and or getting them to a point in which they can realise value for all shareholders. Even if they intend on spinning these assets off into a new vehicle, one should reasonably expect that proper work is being done here. 'Rock chip samples' don't cut it.
If the company has no interest in doing something serious with their north WA assets, why not look to monetize these ASAP with either PLS or AJM who are serious in the region? Sale + royalty arrangement perhaps?
Whilst i acknowledge that the broader Li sector has come under pressure this year, the company has essentially been trading sideways and now heading lower for the last 6 months. Whilst we all assume that the pending DFS will deliver outstanding project economics, there's a lot riding on it!
You express the same issue i am experiencing.
They are sitting on 20M cash.
Why not allocate some for drilling on the WA asset.
The Management holds majority of the shares and they are in no rush at all.
This stock is not a trading stock. One would have to leave it for 1-2 years minimum.
I am hoping the Singaporean fund accumulating up to 10-15% so then they can push for a Board seat or something or they have more power to raise their concerns.
I am still holding as Bearing and Mr Borda will push hard to get their return. I have no hopes with Australian Management.
I will give this company another 6 months before reconsidering my investment.
It is definitely a hold for now.
