OK – lets get the facts down so your cheer leaders cannot be...

OK – lets get the facts down so your cheer leaders cannot be brain washed anymore!

I showed you the published cost per wmt for AJM the sister mine of AJM with links to those figures.

Which was around 500 AUD per wmt, consisting of-complete operational costs accrued before hand-off to the customer.

NOTE: while this is the price published by AJM now owned by PLS, I could not see how the price could be so significantly different between mines and I mentioned that GXY and Min Res published the same.

You stated that PLS production was 500 AUD per dmt and then crapped on that wmt is caused by rain and moisture and that stock-piles dry out changing the operational cost.

I then tried to educate you about the conversion process from wmt to dmt and tried to inform you of the process. Here is is again for your knowledge!

1. Concentration and drying

2. Conversion to beta-phase

3. Dissection of lithium -Tantalite, chemical-grade spod, technical-grade spod

I showed you PLS figures based on the total ore mined in 2020 excluding waste using wmt.

I raised concern at why PLS did not start the operational cost at wmt as this excluded components of the above.

You recently stated that PLS has reported an operational cost of 112mil in 2020 and seem content with that figure as PLS are very detailed in their reporting.

Let me put this to you –

According to the PLS 2020 annual report

Total Material mined in 2020 was 1,942,025 wmt

Total ore processed was 642,215

“Cash operating costs include mining, processing,transport, state and private royalties, native title costs, port,shipping/freight and site based general and administration costsand are net of Ta2O5 by-product credits. Cash operating costs are calculated onan incurred basis (inclusive of accruals) and include inventory movements.”

Total spodumene concentrate shipped was 116,256 dmt @ $84.15Msales

I informed you that operational costs should include alllife cycle figures incurred by the producer, services such as salaries,insurance and any overheads should most definitely be accounted in this as theseare operational costs.

I would even say staff training workshops should befactored in coupled with campaigns legal, marketing etc..

Now, lets say there are 100 staff employed at the mine including the execs – as they’re the most expensive. We know miners are paid at least 100k due to having to live onsite in camp conditions.

Sure, low admin staff might duck under the 100K salary mark , but the execs would swallow up any fat under 100K and append it to their own salaries. So for this I am averaging 100 staff out at 100K each.

100 staff, each with 100K Salary single handily chews up your 112mil operational costs.

Now ponder this!

PLS employed 800 contractors to build the mine and the camp holds 300. PLS have also now taken on AJMs mine and its staffing commitments.

Do you now see where I am going with this? Is this easy enough for you to quantify?

I think you can now finally work the rest out for yourself. Actually – I hope you can work the rest out for yourself