Ann: Positive Pre-Feasibility Study Enhances NAL Value, page-247

I dont really know why the share price has crapped itself, and I assume a nimber of people selling don't really know why they are selling.

Summary points as to why this prelude to the DFS is positive;

- PLL only for 2 years then we can piss them off, and they can pay market price if they want our Spod.
- Indicative vlaue of NAL & Authier is $2b!?
- SYA will be producing both carbonate and hydroxide in 2015, Koreans seem to be keen to get in early and fund the hydroxide plant in conjunction with an offtake agreement.
- They have introduced two magnetic extraction units to the NAL plant, I suggest to ensure they extract iron from the ore and gaurantee a product that can be easily converted to hydroxide (IGO has just amended their plant to include magentic extraction and as a result they have produced their first batch of saleable hydroxide).
- EIS, BAPE or whatever you want to call it seems to be no longer an issue due to tailings amendments, more of a process to authorise the increase daily production I suggest dry tailings will be very much preferred so I see no issue with environmental approvals (Authier now very much simplified so no issue there either).

So I look forward to the individual DFS reports over time and am happy to hold for a few years yet.

Also Moblan the monster yet to show how big she is.