Ann: Final 2023 Drill Hole Results for the CV13 & CV9 Pegmatites, page-144

You dont get it. I will simplify for you and your ceo buddies.

- I have never said Cv5 is crappy. I think PMTs mcap is appropriate at over 1billion. This is not about any other company.
- I think PMT will be diluted and share price will fall dramatically considering costs.
- I do not think ALB will have anything to do with PMT anymore. PMT only opened their books up after the initial investment and since then it's not pretty moving beyond exploration to production with PMT.

Met tests, Plant and dams are massive issues for Cv5 that the market has 0 clarity on. Thats my issue. There is 800klt of Sc5.5 i can't see being added to to supply metrics for North America. Yet, brokers, GS, UBS, etc believe this nonsense being spun by PMT.

- Now, if you have got this far. FOCUS and you might learn something. The document about phase 1 and 2 was submitted as part of the project description on November 2023 - Market sensitive? Yes/No?





Management keep Harpring on about 800klt Sc5.5 - Yet no one here or anywhere can tell me how that will be achieved or the mpta to reach 800klt. Why is that?

Letss break it down:

Phase 1. That nice big pit to the south west of Cv5. No met tests, nothing. But this is the region submitted for phase 1 to the Government.
Phase 2. Cherry picked cores for met tests. Phase 1 and 2 have a combined grade of 1.19% for approx. 55mt. Head grade used for tests around phase 2 was 1.52%. Not really accurate is it?

Phase 2 and 3 combined met tests.

Recommendation's post ALB taking a strategic position identify that further met testing is required. Specifically host rock to be added to tests as met tests were not originally diluted.

There were many other recommendations - none of which the market has seen done, but apparently PMT are mining phase 1 and 2 and it will be DMS only, but we have seen dms/float plant designs.


So based on that, how you are getting 800klt for phase 1 and 2? what is the throughput? how can you have a timeline if you cant identify the metallurgy of phase 1 and 2 appropriately?





Again, i have no issues with the deposit, just management marketing to sell because production is harder than they are making out.