Ann: Resource Connect Asia Future Facing Commodities Presentation, page-182

Propunter2,

I believe that this has become the expectation of Shareholders that are following Lake's progress on the Kachi project. It is certainly the indication that I'm getting from the various groups of Holders that I have come to know along the way.

This approach will still be working with a "base case of 50kTpa" - only it will (IMO) be delivered in stages to significantly reduce CAPEX risk and to achieve "first Lithium" (and therefore significant cashflow) sooner than constructing the whole 50kTpa plant from the get-go. These stages (or trains) won't necessarily be constructed in series, where Stage 1 has to be complete before work on Stage 2 begins either. The nature of this staged and sequenced construction is likely to allow various "teams" involved in work streams to perform in parallel to overlap the construction of the stages and shorten the overall construction time for the 50kTpa plant.

As you have suggested, David Dickson and his team are extremely well versed in this type of construction. I'm very much looking forward to seeing the revised plan that we will go forward with in the coming weeks.