Ann: Authier Project Pre-Feasibility Study, page-43

Just a few paragraphs from yesterdays announcements, being such a detailed report I rather suspect the market hasn't properly woken up to its contents... !


13.75 (MT) with a cut off grade of 0.5% LI2O

80% recovery of Li2O at 5.75% spodumene concentrate

Corey Nolan, Chief Executive Officer, commented “This Ore Reserve, along with the recently completed Pre-Feasibility Study represents a significant milestone for the Company as it transitions from explorer to developer. A drilling program has commenced with the aim of significantly expanding the project resource and reserve base, and improving the economic returns of the project”.

The Company has had discussions with companies that have or are proposing to build lithium carbonate plants in Canada, and has received strong interest for the supply of new concentrates to these facilities. In addition, in early November 2016, the Company attended a global lithium conference in China and held a number of discussions with interested parties seeking to establish long-term spodumene sales contracts. The Company is also assessing the option of processing and producing a lithium carbonate product through an integrated downstream processing facility at Authier.

Project Implementation The Company’s project development plan encompasses the following activities, and is targeting construction commencing early 2018 and commissioning at the end of 2018:  Continuing resource expansion and definition drilling;  Mineral Resource and Ore Reserve upgrades;  Pilot plant metallurgical testing;