Ann: Investor presentation, page-422

This post is my own opinion, I present this information substantiated with charts and links to the original data.
This information is relevant to the investor presentation as it independently clarifies information presented within, is a substantial part of the topic being discussed regarding the financial viability of SCONI offtake and LG,

Hi Koala
I sit here watching the too and fro between the yes camp and no camp regarding LG and their commitment to Sconi.
I believe that LG are in fact playing a game by stalling Sconi while they are actively engaged elsewhere, they are doing this because they can, it costs nothing and they might get a bigger, better prize elsewhere while keeping some insurance up their sleeve while they play (Sconi).

Now before I provide explanation, it is important to note that I am only trying to provide a different perspective to better inform, I am using information printed by a professional research company and thus I am only a conduit to assist your understanding. Don't shoot the messenger.

This is the link to source Nickel Projects Review by RFC Ambrian
https://www.rfcambrian.com/nickel-project-review/

I am posting the charts and graphs to keep this simple, you will note the Australian junior comparisons for better understanding.
I am primarily focussing on Sconi, Sunrise and Kalgoorlie. You know what they represent.

In this graph you will see that Sconi is the smallest resource by size. Comparatively.


In this chart Sconi has the lowest contained nickel. Comparatively


In this chart Sconi has the lowest possibility of takeover. Comparatively.



In this chart Sconi has the lowest planned nickel production. Comparatively


In this chart you will see that Sconi has the lowest nickel equivalent resources. Comparatively


In this chart you will see that Sconi has the HIGHEST cash operating costs. Comparatively.


In this chart you will see that Sconi has the highest cash operating costs, Comparatively.



In this chart you will see that Sconi has the second lowest Capital Intensity (US$/t) Total Capex/LoM Ni and Capital Efficiency. Comparatively



In this chart you will see that Sconi has the lowest NPV and IRR. Comparatively.


In this chart you will see that Sconi has the lowest NPV per ton Ni LoM. Comparatively.


In this chart you will see that Sconi has the lowest potential of third party takeover. Comparatively.



I think I have illustrated a point for your consideration, that is.
- That in almost every chart Sconi comes in position LAST on the metrics being compared.
- That Sconi is not by a long shot the best Australian project in aggregate for Nickel Laterite in those being compared.
- That Sconi has been independently marked down by the authors of this professional independent presentation.

Now when you consider the questions repeatedly asked and ignored on HC.
- LG have courted at LG head office in Korea the Kalgoorlie company recently. LG are looking around.
- LG have visited the WA Kalgoorlie company recently. LG are looking around.
- LG have 2 other projects to look at that are safer bets when looking at the data presented above.
- LG can hold onto the Sconi Offtake until they choose otherwise and fund potentially 2 other Australian projects with better economics and management.

I would argue that LG are looking around.
I would argue that LG know of all three projects in Australia.
I would argue that LG are keeping their options open with the Sconi offtake at no cost. Insurance.
I would argue that LG are very smart operators, they would not fund the worst project when they can fund the best project for the same money per ton.
I would argue that LG are waiting for Sconi management to obtain funding elsewhere without their help, and at that point they will gladly accept the offtake without risk.

These are just a few of my thoughts and just remember, I am sharing an insight with substantial independent research backing that up.
The facts speak for themselves.
RED