Ann: Investor Presentation - Mines & Money London, page-18

Hi mondyinvest,

it's always amazing how different perceptions can be.

However, your description is not correct. In the first part of the interview, Terry refers to HMW. Project status, offtake and financing agreement with Glencore for phase 1, risk mitigation etc.In this context he mentions "If you need 300 to 400 million dollars for lithium projects, it will be there tomorrow."In no way does he cite "greenbushes" as an example of this.

The projects are clearly prioritised in order of status in the interview, as is generally the case.

• HMW (phase 1 - 4)
• Greenbushes
• Joint venture with Redstone Resource

If you want to see something negative with all your might, well, then you try to construct a connection via the second-named project as an "example" for statements about the first project.

Your false statement/ false perception no. 2... and being close to “printing cash” (when in reality they still have construction and ramp-up risk ahead of them for many quarters)all seems a bit odd to me...
Said:...Once we change from explorer to developer and then producer, then we just print money...


mondy: But perhaps he’s deliberately trying to counteract JP’s very measured/understated approach?
Allow me to ask a counter-question: perhaps you are deliberately trying to counteract all the positive aspects, which now predominate, with a great deal of negativity, scepticism and misinterpretation?

Keep up the positive and
have a nice evening
Smith71