Ann: GOULAMINA LITHIUM PROJECT DEFINITIVE FEASIBILITY STUDY, page-75

So upon further reading up again as I want to fully under your DFS;

Metallurgical testwork represents only first 5 years. MLL only used 1500kg sample, 6 drill holes. But your DFS uses a 20 yr LOM, and shows total ore reserves not just for first 5 years but all categories.

IMO you can’t do that as you have only tested (and if that’s representative then IMO is questionable as MLL are using 0.00% cut off) for first 5 years ?

Your representative ore body samples are from two pegmatite zones, and they say it’s 1.74%. This doesn’t look conservative IMO, and it’s only 6 holes !

Also flotation reagents were specifically tailored to the ore body. So what’s the specifications, the costs and capacity to import to Goulamina?

And because you will endure ore variability the questing arises do you have to keep tweaking the specification?

Greenbushes for flotation does just this and after a decade of experience....with a homogenous ore body.

Goulamina is mostly fine spodumene exactly opposite of what BB says is ideal, but tries to find a solution; so in comes Crimms permanent magnetic separators, compared to WHIMS (PLS, AJM etc) it is more effective according to MLL. However there is no photographs of the machinery. We don’t know the scale and if it’s feasible to operate in Goulamkna. Imagine being dependant on one specialist company in China for repairs and maintenance?

Speculation; is that why Chris Evans quit when he realised lithium sulphate wasn’t going to be made on site at Goulamina ?

Constructive feedback would be most appreciated.