Ann: GOULAMINA LITHIUM PROJECT DEFINITIVE FEASIBILITY STUDY, page-93

Always get a chuckle reading the nonsense from AVZ bag holders screaming to themselves on the MLL forum while I drink my morning coffee. These people need a psychologist, not a trading account!

Trying to poke holes in MLL's solid DFS based on the lack of inclusion of a sulphate plant?? Really??

The beauty of Goulamina is that it stands on it's own as a concentrate only project - with lowest cost quartile OPEX and CAPEX.

AVZ's project does not - their costs are highest cost quartile, and the numbers had to be massaged by including an sulphate plant onsite, and assumptions for artisanal tin mining

Who else produces sulphate onsite? Unproven tech! How much does sulphate sell for? No market!

Goulamina will be mined, it's that simple - the business case alone provides an amazing ROI, and is even profitable at current basement spodumene prices.

Downstream processing will come, but would make much more sense somewhere like Abidjan - I envision something like this:



This enables Goulamina's strategic location to be taken advantage of, plus allows the company to capture the increased value in conversion of spodumene to lithium hydroxide.

Anyway, back to more pressing issues.. like the huge operating gold mine we just acquired .

How big is the initial resource again? 32Mt @ 1.26g/t and announced to grow significantly from known additional drill data, let alone upcoming drilling & inclusion of satellites?

We know that the throughput of Morila is >4.5Mtpa and recoveries are >91%.

This initial resource was modelled at $1250 gold price, so we know the AISC must be somewhere around $1,000/oz. Gold price is currently well >$1,850.

Taking those assumptions, we could be producing >160kozpa for at least 7 years (assuming our extensive upcoming drilling campaigns don't result in a single ounce of additional reserves)



>160kozpa at current gold prices = >$150M in free cash flow each year to MLL/FFX.

Giddy up FireFinch!!!