AMAL announcements and articles, page-60

Judging from the rather conservative and cautious tone of AMAL CEO, the ramp up to 2mpta is not going to happen in the near future.

The Amal CEO seems to be very protective of its shareholders (might also be due to his and his wife large holdings) and I doubt they will want to capital raise to accelerate the programme to a 2mpta mine, which requires at least 50million of capex. Instead he will be looking at the potential of lithium deposits after the initial 10% of tenaments explored and funding the capex through the cash flow from lithium and tantunum.

Because it's a JV, both parties must agree. Therefore AMAL will be more of a stumbling block. But the issue is, which most Aussie miners realised, is that lithium is after all used to be a byproduct and the big players are not in the game yet. When players like bhp and rio Tinto start producing lithium with their 10mpta mine, those small ones like Bald Hill will be simipily priced out of the game. Tawana would have known it. Mark's experience as a gold junior would have prepared him for this outcome. But can he convinced AMAL CEO, only time will tell.