Ann: Annual Report to shareholders, page-45

I find this talk about AISC a total distraction. For me what I care about is cashflow, achieving ramp up and meeting contractual obligations of our off-takes. We will get a reasonable take on that I think when the quarterly report comes in about 3-4 weeks.

We have a brand new plant and while in ramp up we will have higher costs, but only because of lower output than "nameplate". AISC will take care of itself as full ramp up is reached and by then forecasts are that supply/demand may be more favourable. So let's not be distracted by spurious questions about AISC from non holders.

Similarly, the hyperbole about the cost of refinance etc. These costs which include legal and advisors, as well as bank fees were incurred while management dealt with the shifting sands of lithium product pricing and oversupply from high cost sources. It was not within their control, but what they did do was to resolve all finance issues and answer all the critics who said banks had us by the "short and curlies" by negotiating a partnership with a tier 1 offtaker that provided quasi debt convertible to equity at a massive premium to market that effectively satisfied the requirement and pulled the rug on the short sellers. They (short sellers) have been in damage control ever since and it will be interesting to watch markets in coming months. Many of us have been topping up near the recent lows and well done if you did!

regards
DF