Ann: Quarterly Activities and Cash Flow Report, page-10

At 30 June 24 we had 10M in trade payables, and we stopped construction on 24 July. Assuming these payables were settled in the next qtr, it brings the total spent on Capex to that point at A$87M

45% of our DFS Phase 1 estimate of A$184M = A$83M
So we were 5% over budget.

The $24M in spending that followed over the next 7 months has, as we all well know, been most unfortunate. Most likely attributable to maintaining the existing ponds, brine pumping, completing 5% more of the overall build, some minor excavation work, Candelas studies and whatever else was paid to not break contracts.

However even if you add these together, and assume we have spent A$108M for 50%, we are still only 17% above our study. For any other capital intensive project this is a solid result

The one thing we do know is the pond build team were efficient and on budget. Finding the $$ has been our problem.