Ann: Assays confirm Adina as a robust, high-grade lithium project, page-190

Mick, taking into account the concerns you've expressed, it's important to consider several points that may paint a more optimistic picture for the project. Adina has one of only five 100m plus pegmatite intercepts, which is an impressive achievement. Pegmatite has been identified at surface to 340m, further supporting the potential of the project.The strike is 3km long, backed by 700m of proven intercepts, a 17m intercept 1km away, MTC holes from 2018, and a gravity survey. This suggests that the company has made significant progress in exploration and understanding the deposit.Furthermore, both the Adina and Cancet projects will utilize hydro power, which is a clean and renewable energy source. This will significantly enhance their ESG credentials, making them more attractive as offtake opportunities for environmentally conscious partners and investors.North America, particularly Canada, is providing financing and support for mining projects at both local and federal levels. This is in contrast to Australia, where the support may not be as robust. Canada offers tax benefits and flow-through funding, making it an attractive destination for mining exploration companies. These advantages make projects in Canada more appealing to investors compared to other regions, including Australia.If consistency occurs with a depth of 200m, and the strike is 3,000m with a width of 50m and a specific gravity of 2.7, the estimated resource would be 81 million tonnes (mt). With a projected lithium deficit until 2040 and a need for 300 additional mines to meet the LCT demand, this 81 mt resource would be highly valuable to any upstream company in the lithium supply chain.Considering these factors, it's essential to weigh both the positive and negative aspects of a project like WR1 before making an investment decision. The potential for growth, the favorable regulatory environment, the innovative processing methods being used, and the strong ESG credentials due to hydro power utilization at the Adina and Cancet projects all contribute to their appeal. In addition to the points mentioned earlier, Cancet has 3 million tonnes (mt) amenable to Dense Media Separation (DMS). DMS is a more cost-effective and environmentally friendly method for processing ores compared to traditional methods, as it requires less energy and water, reducing both the operational costs and environmental impact.