I don't know the answer, but if I were running the company with...

I don't know the answer, but if I were running the company with the assets that we currently have, my priorities for investing our capital would be as follows

1. Rosario Copper project:
Yep - its the shiny new project BUT if you really believe in the "electrification" agenda you just have to exposure to copper (and Silver in addition to Silver). The big question of course is whether or not this project is going to be successful (I never back just one stock). What does $500K - $750K or so get you? Enough for a (small - sub 30MT) Inferred MRE - I doubt it - but a "discovery hole or two" would be enough to support the SP (I'm thinking the C-note $0.15 conversion is the target)

2. Tama Atacama ... this one gets tricky. Brine is the low cost source of Lithium Carbonate ... so we want to do everything we can to remain on the game here ... and that is playing by the Chile Gov't Rules ... PAM has done that by completing the RFI suubmissions required for its exploration concessions. So IMO nothing will happen "quickly" - which is good - and I doubt any drilling will happen before end CY'24. But as noted earlier, there is significant interest in Chile & its lithium brines outside of Salar Atacama and SQM & ALB.

3, RK Lithium Project ... which is encompasses RK, BT and KT. We have an MRE, we have a drill supported exploration target at BT - but no need to drill that and then there is KT for some big upside. Again, this is IMO, there is no pressing need to drill further. They are doing field work at KT ... but why ... it wont change any partnering prospects (IMO). This whole partner process is Thai Gov't driven firstly. To quote from the June Qtrly

"In the March Quarter, Thailand’s Minister Pimphattra Wichaikul, Ministry of Industry (MOI), stated thatthe Department of Primary Industries and Mines (DPIM) had been tasked with speeding up theexploration of potential lithium resources in Thailand in a bid to “… build stability and prepare Thailandfor becoming an EV production base …" which is “… in line with the Industry Ministry's policy to developa comprehensive EV supply chain”, and DPIM’s Deputy Director-General Aditad Vasinonta, showedsupport for PAM’s projects, stating “… Reung Kiet and Bang I Tum — in Phang Nga province's TakuaThung district, had the potential for lithium mining …” and “If Thailand has sufficient lithium resource, it would attract investors to set up their battery plants, as well as positive sentiment about the country'sEV industry and supply chain.” Later in the March Quarter, Managing Director, Paul Lock, met with theThai Prime Minister’s Office and the Director General, Department of Primary Industry and Mines, todiscuss the Company’s RK and KT Lithium Projects and PAM’s strategy to participate in Thailand’s EVand Battery supply chain through the production of lithium chemicals. This support continued duringthe June Quarter.

Either Thailand does or does not want an integrated EV supply chain. If it does, there is only 1 identified source for Lithium salt (RKLP). PTT (and by extension IRPC) is quasi-Gov't entity. They make this happen. This is an opportunity for a China-centric experienced Lepidolite miner to expand out of China into SEA using their technological knowhow. The last thing anyone really wants is more Chinese Lepidolite (or Africa DSO) - but Thailand - the largest SEA auto OEM (and 10th largest w/wide) can put together a mine-to-CAM-Cell-EV supply chain. Do they have the will? (this is not something PAM controls). The partners will find PAM anyway.

Those are my thoughts. Rosario is opportunistic ... worth a shot