ASX Today, page-39183

Your grab-bag of lazy "factoids" and ignorant arm-waving generalizations is becoming tiresome:

In order of your points:

Recovery: All any development can do is lab test work by competent met and recovery experts, unless you are proposing that every mining project construct a full size plant to test the recoveries of a new project with infinite amounts of capital the industry will continue to use qualified labs and do test work to give guidance to recoveries of the target commodity, there will always be adjustments as a process scales up from test work to full scale and if this approach was not taken there would be no operating mines in the world. What PLS got in their recoveries is irrelevant to LTR because each orebody and each plant is tuned to recover from the particular geochemistry of that orebody, and some orebodies inherently have different physical and chemical characteristics.

UG Mining: Yes we are all aware that per unit mined that UG mining is higher cost than open pit but in this case the geometry and the nature of the orebody means that UG extraction is actually more cost and capital effective than open pit. Thats called mine engineering and unless you can show us your qualifications in mine engineering and mine planning I would be inclined to believe that LTR and their consultants have considered various open pit and underground options and arrived at the current mine plan based on cold hard economics.

Power Costs: Its an unfortunate reality that no power is free, every power source needs capital to construct and operate, many profitable mining operations use arrangements to purchase power either from the grid or from dedicated power generator contractors, mining companies sometimes choose to do mining and not everything in the entire world. If you think that the industry does not use specialist contracts for specific services then explain why these contractors exists: mining contractors, power generation specialists, catering and accommodation, drilling, earth-moving, construction contractors, raise bore contractors, shotcrete contractors etc etc

Freight: While logistics are important in an operation - the fact is that the orebody can't be picked up and moved to somewhere more convenient, many operations worldwide have logistics in the hundreds of kilometers, there is nothing novel or unique about the location of LTR's project, its not in Antarctica or the middle of the jungle in Africa somewhere.

WOF: Tailings dams are well understood in the industry, there is nothing particularly unique of special about tailings dams except for the local geotechnical conditions that are unique for every site, DMS operations do use tailings dams as no DMS operation has 100% recovery and there is always waste product that must be stored somewhere. Again - if tailings dams prevented the operation of every project then there would be no mining industry in the entire world. This isn't on the side of a hill with metres of rainfall, and isn't in a seismically active area or contains radioactive minerals.

FIFO: In remote areas and with attracting staff and the cost to construct housing at the mine site the FIFO model is preferred due to longstanding tax treatment of remote housing, attraction and retention of a workforce, and again, if the FIFO model didn't work then Australia and Canada wouldn't have a mining industry.

Management: The Board are not there in the plant running the grinding and flotation floor, its their job to hire people with relevant technical experience in operations, you are making a ridiculous chicken and egg argument, WA is home to a number of experienced metallurgists and operators whom have the relevant flotation experience and the qualifications to do so, every start up and ramp up in the industry is the same and these people will be on a learning curve, people are not born with inherent knowledge in specialized fields of expertise, every other operation has had to go through the same commissioning process which is an iterative, that's a fact of life.

Only low to medium cost producers will survive in an open competitive mature transparent market, without any politicians or other market interference, if you think the past Li market was completely transparent and open, then I have a bridge to sell to you.