Ann: Exploration to Commence over Key Lithium Tenements, page-8

Well now this is an interesting and positive development, in my opinion.

A few quick comments at this juncture:

1. This gives better context to the prospective change in Managing Director.

Personally, I do not expect it to be David Richards given he is the MD of Minerals 260 (MI6) the recently demerged company from LTR.

Needless to say, having Richards on board as a non-exec remains a major plus for WML, given his immense experience and success in lithium exploration and outstanding reputation.

2. WML has already received “offers” to acquire its projects / tenements:



From whom? GXY, PLS, LTR?

It is also interesting as to why the offers will be considered “in due course” and simultaneously with WML announcing its general exploration plans for those projects.

3. Further to (2) above, WML is going to transfer all of its lithium tenements to a single controlled entity “Liquid Lithium Pty Ltd”:



The simple reason may be administrative convenience. However, a more speculative reason could be for a prospective divestment of the entire package in a sale or demerger and listing as a stand-alone company on the ASX (with WML to continue to pursue Mt Venn separately). The latter possibility could certainly maximize value for shareholders.

interesting times ahead. Best wishes to all shareholders.