Ann: Quarterly Activities Report, page-2

Sorry if this has already been posted but just a few comments on the quarterlies....

We now see for the first time it made industrial grade which we know sells for about 14,000 a tonne it’s only around 8-10% less than battery grade .....which is a misnomer anyway as it’s about hitting the battery quality potential customers want and that varies per customer

Accordingly we could stop everything now and successfully move forward with industrial grade.......I think management though are aiming for battery quality grades and to retain some of the additional minerals (which I still refuse to call by products )





We see the name of the claims which I don’t recall we have seen before.   I have circled two things of note, one is on the petro claim which I’ll be saying something more about shortly.   The second is the fidelity claims which I’ll also have something more to say about that shortly.









We have talked about our three mou partners and potential offtake partners but here we have the words “...next step towards commercial off take agreements” ! This brings a lot together for me.....why do the raise for 2.5m, why keep dilution to a minimum now ?








Here we have two things;
1. I like how the additional  minerals are not called by products any longer but “other marketable minerals” I like that better than what I was using
2. Absolute confirmation once again that those matters will be attended to prior to further drilling, I really like how they have stuck to that.  No need to go sticking the drill willy nilly into new holes or existing holes until you know how all the testing has gone.   Tick once again to management.







I was wanting to do a post yesterday to talk about the clastic zones potentially replenishing, but I didn’t want to do that when I had not seen mention of it recently.....well now it’s mentioned I will mention it, just imagine our speculative resource (according the  speculative announcement to the asx ) was not 65-130m tonnes of brine but was .......replenishing.......oh......!  Also 20 untested zones may contain brine .....just imagine the potential tonnage !

The other interesting part of below is to confirm the lithium zones are not part of an oil reservoir , I like this. Many on twitter are starting to talk about  brine from waste oil, we are not the leftovers we have beautiful sweet aged brine.






More confirmation “...likely recharged from fresh in flows of artesian water...” somerimes I wonder if everyone reads all these quarterlies as they have great information in them .





On to cash , I was expecting over 1m to be spent but it was only 726k, clearly they are running a tight ship, another tick from me .








Hang on this quarter we have a spend estimate of 1.1m and we are already 1/3rd of the way through  the month, so more confirmation of a big quarter.  You don’t  spend  1.1million on exploration and evaluation without lots of news flow resulting therefrom.







Now also see above that a bond is to be paid to the us government of $355,000 that is usd $263,000. This is very interesting to me as when we drilled gb2 we had to pay a bond , see below, of $144,000 usd.  There have been some fluctuations in the exchange rate so the amount of the bond is about double what we paid for.........are we planning to pay for two drill hole bonds or is the bond for something else?! I look forward to finding out in the next 8 weeks before this quarter ends !








In conclusion a great quarterly and a great set of numbers.  Over 4m in the bank with more options to convert and 2.5m spend this quarter and after that we will still have 1.6m left plus option conversions .......and then I think some special friends may wish to assist us continue to move forward to pilot plant etc.   I think I am beginning to speculate as to why the raise was for on,y a small number .......that’s confidence from management , absolute confidence.