Running discussion on SP, page-5625

The company isn’t contemplating the building of a refinery or producing lithium carbonate, they are doing a transport study to find the quickest and most cost effective way to move concentrate to port. Today’s price of LCE is irrelevant. What investors here should be considering is what the price of spodumene will be in the years to come and what the impact of being landlocked will have on the future costs of an operation at this location. Eventually all these mines will compete with one another and just because you have a large scale deposit doesn’t mean you have a deposit with the largest margin. The CapEx barriers to developing large scale deposits are large and that’s why they often don’t fly, particularly in Africa. Case in point is the world class Simandou IO deposit. Esh