Ann: Annual Report to shareholders, page-55

Not the strategy at all, predicting/forecasting when LTR turns cash flow positive still needs some critical inputs (for me at least)

As much as the regular posters may disagree, one of those inputs being AISC versus final calculated payments, to which I suspect that the company won't have the first shipment final sale price in time to include in the September quarterly. More than happy to be corrected, but as I understand it, the final settlement price isn't determined until shipment is received (or arrives) at Sinomine's destination port.

During initial start & ramp up, it is IMO that sales will solely go to Sinomine until grade improves towards the targeted specifications under the Ford off - take agreement, furthermore the timing of the commencement of the supply date also means the Ford repayments won't begin until circa June 2025.

Battery grade Lithium Carbonate, being the base of the formulated SInomine payment structure, has finally seen an upturn, but will there be or was there a price discount for the lower Lithium grades at start & ramping up?





I also believe that revenue from Tantalum sales won't actually begin until (my estimate) first 20 tonne shipment in July/August 2025.