Ann: GT1 Increases to 80% Ownership of Lithium Projects, page-3

Next box could be an off-take agreement, or some news around trying to get North Aubry into production.

For example, what if GT1 is discussing on an off-take agreement that required 3Mt of ore to be processed to generate the Spod required to meet the commitment. The potential partner then notes GT1 currently only has 51% of 4.8Mt?

• Option 1 - Defer discussions until an upgraded JORC resource of >6Mt can be released thereby confirming >3Mt at 51%
• Option 2 - Exercise the option for 80% early meaning you now have 80% of 4.8Mt meaning you now have 3.84Mt of JORC resource that can potentially be contracted (abstracting from the issues around Measured, Indicated & Inferred / Proven&Probable)

I'd go with Option 2. Note - these numbers are all hypothetical, just a working theory of mine.

ADV noted in their announcement: