Having a look at the proven and probable resource estimate, the...

Having a look at the proven and probable resource estimate, the mine will be relatively small given the ore reserve (10 million tonnes in that category). At best that would get you a 10 year mine life at 1 million tonne feed ore per year. 5 year mine life at 2 million tonnes per annum ore feed. If can get all the indicated and measured resource maybe slightly longer but not all that resource moves to proven and probable. So comparisons to PLS meaningless here as does not have resrves like PLS. Best they drill a few more holes at Authier to prove up more resource. But it appears that they have a low cost operation hence why you can view in this instance a decision to mine as positive with a relatively low resource base (for comparison purpose PLS has a measured/indicated resource of about 150 million tonnes, here 17.4 million tonnes. The lower grade here also means that you need about 7 tonnes of ore to produce 1 tonne of 6% grade spodumene concentrate at the standard 80% recovery rate.

Bought in today, a small parcel just to see where this might go. Don't mind some low level exploration of the Pilbara conglomerates given its location to other prospective plays there. If they find something there might be able to work with that to fund Authier. IMO

However, agree with you they should put more focus on the DFS than conglomerates etc etc. If they can mine the lithium deposit I would hope they use the profits to fund further drilling etc etc in that area.

All IMO