You’ve got it all wrong. It’s the flotationcircuit that adds...

You’ve got it all wrong.

It’s the flotationcircuit that adds complexity. DMS is much simpler.

The grind sizes are dust.This is unheard of grind sizes unless tech grade as with Albermale. And youwould want to see full suite of impurity levels. The fact Fe is still at 0.7%with so much grinding and flotation stage recovery should suggest to you allthis deposit is very high in iron. And any economic grind sizes 3-5mm areimpossible to achieve a desirable SC product with.

Basically the companywanted to show they can make SC6 but they chose maximum flotation recovery withthe smallest grind sizes.

This is high opex andcapex. Its exactly the problem most WA deposits have.

Don’t be fooled by theright looking numbers alone. The clue to how uneconomic this proposed methodstarts with grind sizes. 0.1-0.2 mm is the key to understanding how they got goodlooking numbers. What you can’t see clearly is how extremely operationally andcapital intensive this is to do.

Anyone who grinds to dustshould surely get impurities down

To me it looks like theychose the best spodumene rocks, realize its high in iron and mica and went forinitial 3.32mm to ready for those fine dusty grind sizes. This is very far fromwhat Greenbushes is doing. Imagine if PLS grind to dust day in day out like MLLare suggesting? The opex would be ballistic and so would the capex.

So why does MLL think ithas achieved a battery grade SC6 result? This testing is still very verytheoretical.

How can management beconfidant about being able to accommodate variability of the ore deposit? Thisalready suggests some anxiety and the only reason they could be confidant isthe amount of energy and time spent grinding to dust to gain what looks likevery good recoveries.

Basically the company isstating the deposit is high in impurities —note the 0.7% for Fe even aftergrinding to dust suggests that Fe is locked into the Spodumene lattice.

The only things likeableis they used water from site and they didn’t try Ken of pilgangoora’s stunt ofonly mentioning introduced iron from ball milling.

Controlling moisture, anddust two issues at the refining stage are also moot.

The company wouldprobably need to be more realistic and do coarse and fines.

If dust level grind sizesand flotation only recovery were economic then Greenbushes would be doing it.There’s a reason why their grind size is 5.56mm

It’s not enough to sayeach resource is different when your market is battery grade lithium products.