Ann: Notice of Annual General Meeting/Proxy Form, page-139

I believe there may be an alternate version of what occurred. I think Brett voted against the 200 mill raise, but voted in favor of an OTA and JV with a major automaker, this would have given them money up front without the need to raise.. B & B voted for the 200 mill and against the OTA. There are only 3 people who know the truth about why the OTA was rejected and I don't think they will ever give us a full understanding of why it was rejected.

Here is my OPINION on why.

The OTA would have sped up the timeline to chemical production. Our JV partner who also is a personal friend with JB did not want that to happen, in fact I believe now that JB does not want chemical production of any sort, which would allow the deal for $900 cap to continue through LOM.

Since JB has taken over and started his strategic review, he has not revealed anything to share holders. They could publish the strategy and timeline prior to the AGM and clear this matter up, but I am of the opinion that they will not discuss anything other than hard rock mining. Point in case look at the FY2024 outlook, no mention of progressing chemical production.


In the entire 144 page annual report the word hydroxide is only mentioned 3 times, these 3 references are are all referring to a trade off study that will now be published sometime in 2024. There are no forward plans whatsoever discussing chemical production in fact NAL does not even show that it is in the "study" stage.








Without chemical production we will be working our tails off for and getting nothing for our efforts for 1/2 of everything that NAL produces, this is NOT even remotely what I want for my investment. I will be voting NO to all 5 resolutions.



I want a BOD who gets the full picture. A BOD who will do what is right for share holders including re-negotiating contracts that are clearly not in our best interest. We have waited too long for this to all be thrown away.

I have undevoured to speak with James several times in the past 4 weeks and he has not responded.