Ann: Quarterly Activities Report and Appendix 5B, page-12

Hi JL,

With significant announcements around the corner I doubt that LCK would dilute the SP any further then what it has to. The acquisition of plant and equipment and use of external contractors can be delayed until these deals are made and announced which will prevent major dilution. LCK have control of their finances.

A re-rate would be expected after these announcements upon which they can capital raise as much as they want.

Yep anticipate that these announcements should be made within the next 2 quarters