in a matter of 2 months

In a matter of 2 months we have gone from-

RINCON
- We are producing lithium carbonate 99.3% purity after a 100-120 days process when our competitors
have been in the business for many more years than we have and are producing lithium carbonate 96-
97% purity and after a 8-9 months process.
- We are producing 10,000 tonnes of sulphate of potash every two weeks from Rio Grande.
- Equipment for Rincon and plant for Rio Grande has been ordered and we are waiting for delivery.
- The tender process continues and progresses satisfactorily.
- The demerger will be voted for once the remaining tasks (which are minimal) are finalized and we have
full approval from the ATO, ASIC and the ASX.
- FUTURE: With the appropriate funding, which part of it will come from the offtake agreement in the
tender, RLL is poised for a great start.

to fire sale.

Even these statements require answering.

- Where is the money from the potash production 10,000 tonne every 2 weeks at $190 per tonne. Is this included in the sale price?
- The equipment that has been ordered. Has ADY paid for it and is it included in the sale price?
- The tender process. Well that is a humungous question on its own.

What has happened over the past 2 months for this to collapse totally. AND DON'T BLAME THE CREDIT CRUNCH. That is an easy copout.