With the share price languishing, it’s been very quiet on this board of late. Anyway, for the few that are still here … I see several issues holding the LAC share price back at present, including:

·         Lack of clarity re C-O production and cashflow

·         TP not yet fully funded (DOE loan amount?)

·         Dilutive share issuance overhang:

o   Re-purchase of CN’s – how many and at what price?

o   GM 2nd tranche – at what price?

o   TP funding beyond DOE loan – is this required?

·         What will Ganfeng do with their holding in LAC NewCo?

·         How will the various Pastos Grandes asset ownerships be rationalised/resolved with Ganfeng?

Note that GM and CN holders have a financial interest in seeing the share price as low as possible.

Institutional and sophisticated investors hate this type of uncertainty (especially potential dilutive share issuance), and short sellers will always seek to take advantage of it (current LAC short position is 11% of public float).

Most (if not all) of these issues will be resolved by year end. But in the meantime, I guess we need to stay patient, and accept a languishing share price.