What's Going On, page-23

Getting real close to expiry and the expiry date looks to co-incide with Lemare news / expected defined resource completion timelines.....Could play out positively - time will tell.

The company will want them exercised I would say as the $700k approx from the oppies conversion will come in handy with future projected spends required at Lemare and Euriowie, once licences are granted. Although, there is still plenty of funds on hand from recent raise.

Looking down the line into 2017....considering our current shares on issue and potential further requirement of funds to bring our resources closer to production - the possibility of a consolidation may be on the cards. I don't mind that, should it be done on a 2 for 1 or 3 for 1 basis at a healthy price. If the resource is strong, Soph's and private placements may offset this bringing valuable investment and confidence into the company. Our two new company appointments in Mr. Walsh and Mr. Rodda offer successful precedence under these scenarios.

Whilst the lithium stocks have taken a bit of a hammering in recent times, it is encouraging to see the support of the sector come back somewhat with the recent growth in small cap peers such as KDR, EMH and TAW to name a few following positive announcements.

Current action being idle is commensurate of the market wanting verified results as opposed to potential. We are not far away now from learning of our results and how they will be perceived.