Ann: Development Projects Update - BP33 and Carlton, page-70

• MinRes lobs a bid for the Bald Hill lithium mine in WA, Glencore also rumoured to be working on a $1.8bn proposal
• Bald Hill resource last updated 2018 to 26.5Mt at 1.0% Li2O
• Could new owner look outside boundary to boost resources?
• Surrounding ASX listed explorers include Torque, Boadicea

The resource is less than ours, yet the project is valued at $1.8B.

And our Resource: Mineral Resource Estimate increased by 62% to 30.6Mt @ 1.31% Li2O.

Our Mkt Cap is circa $850M with $250M cash - ie. EV of $600M.

That is how undervalued we are.

AIMHO.