Ann: LKE Presentation to Noosa Virtual Conference, page-37

My first parcel of LKE was in June 2017 in mid 20s. With “over supply” report, LKE went into my bottom drawer but over time I have purchased reasonable amount of shares and averaged it down to 6c plus.

As an organisation we have achieved a lot in the last 3 years - Kudos to management. They have converted a Theory into possible ground breaking Technology. No doubt about it.

In my view, lack of confidence is due to management not being transparent and informing shareholders the FACTS. Sometimes announcements are sugar coated.

There have been several instances where management didn’t come up with true reasoning for delays.

1. Release of PFS was delayed by months. This means either lack of planning or not informing the true reasoning to shareholders. Silence or ignorance will not build confidence. When I asked Steve, he did say that delay was due to lack of resources/finance. This is exactly what we shareholders want to hear - the truth and also a revised plan.

2. Delay in LILAC sample outcome. Based on the last few announcements, the delay was due to LILAC not been able to complete Kachi pilot plant on time. However, there was no communication upfront. This is what needs to change.

3. Steve sometimes get over excited and states in conferences within days and weeks, results will be released. Either he should stop saying such things in a public forum or deliver the results as promised or keep shareholders informed of the delays.

4. Changing the Chairperson. There is no update since it came up in one of the announcements a few months ago and when I asked him in one of the webinars he said “in progress”. But where is the update on the progress and as share holders we need to know

If LKE can improve on some of the above aspects immediately, I strongly believe the confidence levels will improve. First management needs to accept there are flaws, which every organisation has, and then correct it.

looking forward to the next 3 to 6 months.