Keith Explanation Proactive, page-57

Just saw Keith's "Explanation" and I've gotta say it was piss weak!

Blaming cost of Tin, therefore mine dynamic adjusted. Well the price of Tin is well up over the year.

Went for a higher Lithium bearing zone, that's fine. But lower than expected Tin recoveries is the real issue there.

20k tonnes LCE, market didn't like it. Looking at increasing that. Well, no real foresight there either Keith, for a $400m spend 20k LCE doesn't really cut it. How are we going to increase that? Two of the biggest roasters in the world??

Costs have risen across the board, quoted FMC. Well that's brine and the negative of brines, is their exposure to weather conditions etc. We are hard rock, don't think inflation can be blamed for an increase in production costs "across the board" as a valid reason for the PFS costings.

Let's call a spade a spade, they made the wrong decision at the start of the PFS to evaluate the roasting process. Simple as that, can't really ask for a do over now at the rate EMH moves.