Ann: Kathleen Valley Project Update, page-35

This announcement is brilliant news to me. Having said this I’m looking at this with a long term perspective. I’ve held for years and will hold for years to come. 0.5Mt more is huge and means we have more material for the spot market or to increase contract size. It also means we get 20% more profits at a time when lithium prices are at record highs.

No need for a cap raise. We can easily secure a prepayment or loan, perhaps in exchange for this extra supply. Alternatively that DSO income may cover it.

If our management have encountered these cost blowouts then everyone will. At least our management are transparent in announcing this early and have already identified optimisations that could offer us an easy way to deal with this issue. As always I love how they operate and I have complete faith in their decisions.

In Tim we trust.