Ann: Maiden Lithium Mineral Resource, page-10

It's a very small resource, likely end up with a 5Mt mineable reserve at 1.3% Li2O attributable to TAW (50%) = ~950,000t of 6% spodumene concentrate.

However it looks like there is plenty of exploration upside so it should grow a fair bit from here.

The real benefit with this company is the strong management team and how they have already secured a pre-payment and off-take.

The other unknown is cost of production, the description in the announcement makes it sound like it is a GXY muscovite style deposit, doesn't look like the most advantageous ore body for mining, plus there was no mention of Fe2O3 content.

GXY's OPEX is ~$565/t, hopefully TAW's is about half that considering their very good metallurgical test work - didn't need to grind too much and Fe2O3 levels acceptable.

Forgive my ignorance but is TAW now fully funded or do they need to raise a little more to cover their total CAPEX requirement?