Ann: Investor Presentation, page-141

Agree, at the moment, the fine for producing less than 6% is worth it purely for more sales at these high prices.

The premium for SC6 should trend up as market dynamics evolve, particularly as more supply comes online. If hydroxide producers are no longer willing to accept lower concentrate grades then it's a good representation of supply keeping up with demand but I don't see this happening for a while yet. Hydroxide producers for the foreseeable future will have to buy what they have access to.

WR1 will clearly have options and given current metwork on both deposits i believe they can produce SC6 no problem.

A position where you can only ever produce a top grade of 5.5% to start with, is not where you want to be in future years.