Ann: Quarterly Activities Report - September 2019, page-10

Good results.

Overall cash cost excluding royalty & sales expenses, USD$387/ton, in line with my estimate, USD$337/ton x (feed grade 1.39% / 1.19%). LOM grade 1.15%, cash cost would be around USD$400/ton, plus royalty & sales expenses of around USD$80/ton, AISC would be around USD$480/ton, very good figure compared to PLS.
Only issue is Mt Cattlin resource is not big.

A40 investment doesn’t seem turning well.

I think shareholders would be better off pushing management to acquire some good lithium deposits to take advantage of this lifetime opportunity due to temporary oversupply, imo.

GLTA.