Ann: Update on Product Offtake-PLS.AX, page-226

I don't see how this could cripple the company. In fact, this slight annoyance isn't going to prevent PLS from becoming an operating mine. GAM have a 45 notice period to either match the current offer on the table or walk away and allow PLS and General Lithium to formally complete their business.

MIN has not confirmed the acquisition of GAM assets has been completed. Either they today announce that the Wodgina assets, together with the ROFR, have been aquired and make a formal request to see the offer on the table or they cancel their request. Either way, MIN is in the poo poo over this and will need to explain themselves to the ASX. The continual disclosure requirements by MIN have been breached. Simple at that. In effect this will have no impact on PLS from selling their concentrate.

The 45 day period has commenced and in being so late in submitting a request it is very clear that MIN have no intention of matching the offer. As others have said, they have made the request for business intelligence reasons. There is no possible way am 18 month deal in the making can be thoroughly analysed in the remaining three weeks.

Considering the current resource and offer in place, PLS is looking very cheap at present. It would be good to see this for what it is, an annoyance and see some sanity return. Moving forward, even if MIN aquire the ROFR i very much doubt they will attempt to match the offers. Should they match it, we will still receive $X per tonne with the added kicker of not having to pay the commission of 2.5%. How is that a bad thing?