Ann: Financial Year 2019 Results Presentation, page-18

The results here are being looked at in preparation for a turnaround in the lithium market.

The lithium pricing has flattened out. Chinese Spot price is starting to show some green, the market is waking up to the shift - ARE YOU?

So the real question behind these results is - How has GXY been able to position themselves (just like FMG did with Iron Ore) for a turnaround in pricing?

Answer = Very Well.

It should also be pointed out to those here that cant seem to get past the write down of impairment at Mt Cattlin, that the truth of these results is as follows:

The underlying net loss before-tax excluding one-off items was $18.9 mil

But dont forget that GXY is also sitting on:

65,000 Tonnes of final product ready to sell - all costed in.

Average sell price was $502 a tonne

So. $502 x 65,000 Tonnes = $32.63 million

Cash cost per tonne sold was $393

So. $393 x 65,000 Tonnes = $25.55 million

And lets not forget that Cash and financial assets = $143.2 million USD (bit more than the downrampers predictions )