Ann: Mt Cattlin update,GXY-GMM.AX, page-2

Sensational news!!!
Doubling of production.....
Following maiden commissioning of the fines circuit at the Project in March 2016, construction has continued and will now result in a significantly expanded processing capacity at Mt Cattlin:  Annual throughput (ore treated, tonnes) – 1,600,000  Average annual LOM spodumene production (dry tonnes) – 160,000‐240,000  Peak spodumene recovery – 75% This change has been driven by the substantial efficiency gains on offer to the Project owners in installing a larger circuit, as well as the opportunity for Mt Cattlin to meet significant market demand for spodumene concentrate at a time of constrained supply into the China based lithium refining markets. First shipment from the enlarged circuit remains scheduled for September 2016, no delays to deliveries have been incurred due to the upgrading of capacity at Mt Cattlin. Forecast Production Summary: Previous GXY (est pa) GMM Oct 2015 GMM Jul 2016 Throughput 909,824t 800,000t 1,600,000t Spodumene @ 50% yield 108,054t 80,000t 160,000t Spodumene @ 75% yield N/A 120,000t 240,000t Progress Update Mining and maiden commissioning of the fines circuit at the Project occurred in March 2016. After reaching the initial desired commissioning and production milestones, the Project went back into a construction phase to complete the refurbishment and upgrade of the coarse circuit, and to implement final changes to the significantly improved fines circuit. The new circuit will:  Reduce mica content below 5% of total mass in the finished concentrate (previously approx. 20%)  Increase throughput design to an annualised run rate of 1.6Mtpa (previously assumed by GMM to be 800,000tpa)  Increase yield from a historic 50% to approximately 75% by recovering both fine spodumene and coarse tantalum, as well as significantly reducing mica content  Reduce operational costs per tonne through a number of efficiency gains Over the last three months, mining of the ore grade TSF material has been largely completed (50kt ore remains in situ) and is currently stockpiled ready for use as feedstock in the fines circuit. The ROM pad currently holds 100,000t of blasted ore ready for crushing and feeding into the coarse circuit.