Ann: Company Presentation, page-39

Thanks Niu,

So $50m USD (37.5 ORE / 12.5 TTC) was made available to SDJ plus whatever they had left over from project funding. Now we can only guess as to their current financial position and can only go on the guidance of ORE that they expect there to be sufficient funds to see it through the ramp up without further funding requirements. Using similar rough numbers to yours it would appear that this is the case given production goes to schedule and if there was a need for further funding the likely reason would be to cover any shortfall on the P&I repayment. Thus a CR if there was one should be expected closer to Feb. Management have stated that they are already looking at options to cover this shortfall should it arise such as product pre purchase arrangements. Seems like they are pretty committed to avoiding another CR. Having said all this, if production ramp up issues continue then yes a CR will be inevitable but this year unlikely IMO. All we can do for now is be patient and wait for the numbers to roll in. Those being Jan, Feb, Mar production figures. All going well there, a surging lithium price and an LiOH expansion on the horizon... well, 2016 could be a good year for ORE.