ajm v taw, page-3

TAW will produce 155-160ktpa phase 1 and ~204ktpa with one DMS after installing a LFC - phase 2 end of next year. With installation of second DMS that will at least double if they choose the same size DMS but possibly triple given recent comments from the company and be operational in 2019 IMO from free cash flow. 50% TAW owned

As with AJM there will be a ramp up and costs will start high above $500 like you say for TAW but will drop to ~$360 end of next year for phase 2.

TAW exploration upside 200MT not out of the question, as indirectly quoted by Mark Calderwood/TAW annoucements after today’s acquisition. 100MT 50% owned with another possible 100MT 100% owned. AJM also have upside but to that extent I don’t think so....?

I’ll just add TAW will be the next Australian Lithium producer Q1 18, AJM Q2 18.