Ann: PFS Launched for NAL Lithium Carbonate Production, page-198

A Feasibility Study into a Potential Downstream processing plant is required to be completed by August 2024 ( 3 years after closure of NAL Purchase)

Downstream Conversion of SC6 into Hydroxide or Carbonate under the agreement would need to occur by August 2027 (6 years from closure of NAL Purchase)

The most exciting part of today's announcement is that the PFS is being led Hatch (who is a well credentialed and credible engineering firm). The quality and accuracy of the PFS should be of an acceptable standard, unlike the NAL / Authier PFS which was littered with errors

The 2nd point to make it that the PFS launched today is exactly that.... A Pre-Feasibility Study

Once the information has been absorbed, the JV partnership will then make a decision on how to proceed forward (The Pathway and Timings) and to award the Definitive Feasibility Study to the appropriate consultant

The DFS should be completed in Q4 2023 or Q1 2024, which is in accordance with the requirement to complete by August 2024. People getting excited off todays announcement have minimal knowledge / experience on the steps required to bring mining projects online by the looks of things

A Best Case Scenario Timeline (If Jointly Agreed to)
- PFS Completion March 2023
- DFS Completion December 2023
- FEED / EPC Q1 2024
- Finance + FID Q2 2024
- +18 Month Build that would result in 1st refined product in Q4 2025

All of which aligns with the agreement to complete full feasibility by August 2024 & Production by August 2027