Ann: Application for quotation of securities - SYA, page-29

If we keep going the way we are at the present moment , we'll get there too.

Keep in mind that NAL's resources if you include the ' Inferred ' category which was calculated back in 2010 by I believe BBA engineering ( refer NAL resource table from 2010 ) , you would have ANOTHER approximate 57.6 Mt of Ore resources whereas Authier has another 3.76 million tonnes for a total ore resource of 20.94 Mt.

Now granted there needs to be a lot more expansion drilling to prove up to official JORC standards the upper limits of Management's expectations of the Tansim Deposit - If we were to include their 25 Mt upper limit on that PLUS NAL's additional inferred resource PLUS Authier's inferred PLUS Moblan's current approximate tonnage without even considering its untested and high quality further potential , we could very well be sitting here talking of a TOTAL Ore resource of 159.5 million tonnes @ 85% cutoff and overall 1.2% for a total contained 6% lithium of 1,627 million tonnes.

So the thing about the comparison to PLS is that I believe Sayona has much more ' Upside ' expansion and exploration potential across it's basket of tenements than that of PLS. So with PLS from a longer term perspective and because that is what we're really talking about here , the upside apart from its move towards its conversion JV in korea , it that it's upside from exploration potential across its tenement holding packages is about as good as it gets on the overall increased ' tonnages ' unless it acquires more ground or another Company ....which its already done.

And as I have always said before , that has always been the PLUS and the beauty of Sayona's development and value appreciation curve , and obviously more so now than perhaps ever before now that it has a Plant to process it.

So in Sayona's case , a great expression for this comparison might be that :- The Market may be able to take the decreasing and shrinking resource potential out of the Producer over time , but it can't take the increasing resource potential out of the explorer over the same time

And so I guess the important point here is that Sayona is now .BOTH an exploration play as well as an emerging producer play.