Ann: Pilgangoora Resource Upgrade-PLS.AX, page-188

Although some may be discouraged by today's trading, there is no doubt that today's announcement was a cracker and will eventually feed into the SP. Up until today there have been around 20 positive announcements containing Pilgangoora assay results and 6 Resource upgrades. Out of curiosity I've placed a SP marker on the day were a revised resource was announced. Below is both the announcement title as well as a chart with the SP markers. Although the announcement on the 24 Sep 2015 contained a prolonged cup formation, what can be seen is that significant SP upthrusts have closely followed resource revisions. My thoughts are that we may see a week or so before a significant movement. Although a supposition, it may be the case that smart money do not buy on the day of an announcement as day and short-term traders are overly involved in trading and the volatility is not desired by those building a position. Sit tight guys. This will move very shortly.



06 Nov 2014 - Drilling Commences at Pilgangoora
10,348M drilling campaign - 8.6M tonnes @ 1.01% Li2O

09 Mar 2015 - Substantial Resource Upgrade at Pilgangoora
21.7Mt @ 0.022% Ta2O5 (tantalite) containing 10.7Mlbs Ta2O5 and a Lithium Resource of 16.6Mt @ 1.16% Li2O (spodumene) containing 192,000 tonnes of lithium oxide

02 Jun 2015 - Further Increase in High Grade Lithium Resource
23.83Mt @ 0.021% Ta2O5 (tantalite) containing 11.3Mlbs Ta2O5 and a lithium resource of 20.48Mt @ 1.16% Li2O (spodumene) containing 237,000 tonnes of lithium oxide;


24 Sep 2015 - Major Resource Upgrade Pilgangoora
Indicated and Inferred Resources of 52.2Mt grading 1.28% Li2O (spodumene) containing 668,000 tonnes of lithium oxide with 32.9 million tonnes grading 0.022% Ta2O5 (Tantalum) containing 15.7 million pounds of Ta2O5;

01 Feb 2016 - Pilgangoora Major Resource Upgrade
Indicated and Inferred Resource to 80.2Mt grading 1.26% Li2O (spodumene) containing 1,008,000 tonnes of lithium oxide with 42.3Mt grading 0.02% Ta2O5 (Tantalum) containing 18.3 million pounds of Ta2O5

10 Mar 2016 - Pilgangoora Lithium-Tantalite Pre-Feasibilty Study
Maiden Ore Reserve of 29.5Mt @ 1.31% Li2O and 134ppm Ta2O5

11Jun 2016 - Pilgangoora Resource Upgrade
Measured, Indicated and Inferred Resource to 128.6Mt grading 1.22% Li2O (spodumene) and 138ppm Ta2O5 and 0.63% Fe2O3, containing 1.57Mt of lithium oxide and 39 million pounds of Ta2O5;