Ann: Speewah Vanadium Study, page-26

It's really just Windimurra that is on C&M. Mt Peake is in development. Those two will come online soonest in a V bull market.

And the rest of the V projects in Australia are pretty much in their infancy.

- Barambie is very low tonnages, 10Mt total resource. That won't ever get up.
- Unaly, Canegrass and Balla Balla are just behind **anintha in terms of work done (scoping/feasibility)

And Speewah comes in behind them all, with an outdated scoping study, albeit one that was quite promising at the time.

Not all of the above projects will get up, but you'd expect **anintha stands the best chance of the "rest of the pack". Then Speewah is at even odds to Unaly, Canegrass and Balla Balla imo. But with economies of scale at hand, it is just as likely to succeed as the others, on paper. And that chance, that's worth paying 0.6c per share for imo. Some of the big lithium players were sub 10M MC 2-3 years ago.