LRS ,is going through that period that is not overly exciting...

LRS ,is going through that period that is not overly exciting ,but is needed to put all the ducks in a row for the DFS.

Infilling is to raise the quality of the measured and indicated resources, remember the PEA was only based on 27MT.

Intensive drilling to raise the JORC ,already at 70MT, so I think 100MT is very possible, especially with Fogs and Planalto to be added.

Lithium Ionic hits next to Colina are good quality, but small for them to develop an economic pit ,but could be handy to extend our pit to the east ,so an acquisition could be in order.

Offtakes to come in this year, I don't think CG or PO are not in a hurry here, as they are culling all but Tier 1 customers ,and waiting for the price to continue turning .

These customers do not deal on the spot price, but 2 years out ,and that is projected to be higher, and about our production time.

Recruitment of top talent such as PO, and now a mining engineering and project development team show the board is serious in becoming a Tier 1
producer.

This could make us a TO target , but the best path for the board, (remember they have a lot of skin in the game too), and SH, is by far, to get to production to maximise share value ,and even produce dividends.

The IRR will be very good ,and that will make the path to dividends quicker, if production ramps up in years 2-3.

Of course there will be hiccups along the way, but all mines hit them.

Their approach is focused, measured ,smart, (using all the Sigma consultants ,and construction contacts),and we SH need to be patient with the board
generating wealth for the long term stake holders.

I know the long term SH on here are the exception, but the wider domestic market is not very willing to look past WA for Lithium, and regard Brazil as higher sovereign risk .

I beg to differ, the price pullback has exposed high CAPEX and OPEX areas such as Australia and Canada ,let alone Red, Greentape and Native title delays.

The average Li mine takes 7 years in Australia and 10 years in Canada.

Sigma up the road did it in under 2 years, even with Covid ,if LRS can do it in a similar timeframe ,2026 ,then thats good enough for me ,and that's the reason I have faith in LRS in the long term.

GLTAH DYOR