Ann: Deferral of Fin Rep Obligations/Ext of Time to Hold 2020 AGM, page-12

Hi Gibbster
Can you point out the lies please?
....I took some rough notes on the Altura section of that talk:

Ken Brinsden led into it by reinforcing spodumene demand is now strong several times, then cited the importance of the new PLS refinancing (rates and terms and calibre of lenders), which he said was due to the strength of the operation at Pilganoora and, very importantly, as a consequence of the significant partners


Regards the potential Altura acquisition
... “we are sad and ultimately sorry Altura has fallen into receivership” ...
He said no-one wanted to see contractors and shareholders being hit, but he thought the employees “will be looked after”.

... “We have been ready to act for a long time
so much logic in the acquisition..”
He said the purchase price they were looking at was $240M and that PLs was uniquely placed because it now had “ significant expertise in lithium flotation” which was “very special”.
“Our flotation circuit works like a dream”.

He said the one at Altura had never really worked and that it was achieving similar levels to what PLS had been achieving similar 15 minths ago...with the implication any other buyer than PLS would be constrained by work to bring the AJM flotation system up to optimum production.

The second point making PLS the logical buyer was that it owned access to a significant wedge of the Altura ore body which meant this area was ‘sterilised’ unless it made commercial sense to PLS to grant access.



Then he moved back to the point that demand conditions improving.

cheers