Ann: Lake Way Project and Financing Update, page-254

Looking back they had 400H of ponds completed in Feb 2020 (DFS total = 900H).
This 400H was in full operation June 2020.
Further ponds commenced September 2020 (train 4 of 6).
At least 50% of the completed pond area has been under the sun for at least 12 months with 25%? for over 18 months.
90Kt of harvest salts is a dismal result.
They told the market in June 2020 that the harvest grade from a cell in stage 1 exceeded the DFS grade.
Clearly at least 1 cell in the stage 1 harvest cells was a success.
The fact they managed to report they had decent salts back in June 2020 suggests something went wrong after that, probably in the stage 2 ponds as you allude to.
It seems really odd they were doing ok and then things went bad if they were following the same model throughout that whole period.
They have basically wasted a year although some might say they haven’t because they have learnt something.
I guess we may get a full explanation in the next release.