Ann: Noosa Mining Conference presentation, page-30

"Need more proven resource would like a proven 15MT over time for a 1MT ,15 year mine life"

Couldn't agree more Phoneix, although we have enough to start an operation, we require the extra resource to underpin the commitment, confidence & Capital required to build a Processing plant for the Norths Dome project for the longer term mine life and to attract offtakes.

My calculations suggest whatever the Current resource (11.2Mt) was calculated to at depth, as CADE is OPEN at depth we only need to prove (in Cade) intersections to a further depth of 200m vertical to get an additional 4.6Mt, ie 11.2 +4.6 =15.8Mt.

Calculations -Assumptions below

Work on 550m width 200m vertical depthassuming dip of the Cade Peg ~ 60deg means about 230m planar length using Trigonometry,
2.6 specific gravity.

Thickness we can use the 3 deepest intersections ofCADE, and get an average lets say 14m @ 1.2% Li2O 550x230x14x2.6 = 4,604,600 tons (for 200mvertical depth – 230m planar at 60deg dip)

(Previously I had used 45deg dip however 60 is probably closer to the truth)

So every additional 100meters in Depth vertically we can prove up (assuming thesefigures ) and assumption that grade and thickness stays consistent we can add 2.3Mt to the resource.