VOTE NO AGM 2023 RESOLUTION 1-5...... NO, page-384

Not that I want to entertain your "stupid" question, but just looking from a single asset-based approach (NAV), its not hard to work out that we are massively undervalue. I don't even need to calculate the EPS to prove you are so wrong.

Below is the annual report clearly stating our "Net asset" if you bother to read. $885m can be found in our annual report, last I checked our MC is sitting around $810m


Now 885m is a very conservative number. If you want to compare, look no further to Liontown Kathleen Valley project, will their recent CR of close to $1b to finish the project. To date they have spent in the proximity of around $730m, which will bring a grand total of approx $1.7B

If you look at our recent quarter, we have done around $96m for 48211 dmt @ an average selling price of $1985dmt.
Our Operational expenditure (FOB) $1231/dmt which total $59m, giving us a net profit of $36m.

Nb: PLL had 29000dmt and Sya had only 20500 (they should only get half)

Based on the above and if our annual revenue is around $400m (with PLL offtake) and a net profit of $145m

Now those figure are based on rock bottom lithium price at the moment, spodumene could be trading between $3500-4000 in the next 12 months, which literally mean our Revenue could be sitting at $800m. What if we can produce more Sc5.5 by than, highly possible right.

Now, this is not even including Moblan, Nal recent expansion of resources adjoining Jourdan, Tansim, Troilus and our Australian assets.

So you can clearly see, it's worth alot more than the $800m you have suggested as a fair value.

Now you can fk offf!!!