Ann: Statement re Media Speculation, page-10

I bought some more this morning at 36c
At that price the Market Cap is a ridiculous $220m, explorers who have little more to show than rock chips have higher market caps than this.

I mean they are mostly funded to production with 50% of their offtake unspoken for, people with first hand Lithium experience running the place (Keith), a JORC Resource, DFS and the ML not too far away.

They were 1st knocked down by the short seller report into Piedmont which turned out to be rubbish, then they were sold down because their DFS was not as good as the PFS - but if you bother to listen to the commentary about the DFS it is actually very good but different to the PFS & comparing the 2 is like apples & oranges. The latest hit is to do with the mining code, possible Royalty increases etc. At 5% the Royalty is well below what WA miners pay by the time they add all the private & traditional land owner percentages to the States 5% (7.5% for DSO).

A real bargain at these levels