$1 By End 2021, page-4

Good point on a price catalyst @19stevo71

This is my take on different delivery outcomes and it’s possible impact on LKE SP in H2 2021;

1. Kachi drilling progress and resource upgrade (5c to 10c increase)
2. Cauchari drilling progress and resource (5c increase)
3. Cauchari development partner and DLE partner (5c increase)
4. LILAC strong partnership (5c to 10c increase)
5. NOVONIX final results (5c increase)
6. Kachi ESIA progress (5c to 10c increase)
7. General market update on construction finance funding progress (5c increase)
8. Atleast MOU with one Tier-1 offtake partner (20c to 40c increase)
9. Olaroz drilling permit (5c increase)
10. Probably with an alliance or offtake partner, a new BOD appointment (10c to 15c increase)
11. Demo plant at Kachi (10c to 15c increase)

If all these get delivered in H2, we may see an increase in LKE SP between 80c to $1.25c. Currently we are trading around 35c which means if all goes well we may see a SP of between $1.15c to $1.60. Considering not everything will go as per plan and some may already been priced in, there is a very high possibility for SP to be between 90c and $1 by end 2021.

As LKE is been recognised by Instos and ESG fund managers recently, we may also expect new valuation reports coming from larger brokers which I have not priced above along with further increase in Lithium price and demand/supply deficit.