I think @PICT and @eshmun raised valid points regarding the...

I think @PICT  and @eshmun raised valid points regarding the funding situation and result of further testwork done since the preliminary metallurgical outcome in Mar-17.

Regarding the funding, I am not at all concern as I am 99.9% certain that SQM's convertible loan facility will be drawn prior to 30-Sep.@PICT mentioned "expect" might mean after Sep. However, the wording in the 12/7 that "extensive work has already been undertaken in relation to the negotiation of the definitive agreements" leads me to believe that we will get news flow on this by the end of Aug.

Furthermore, in the event where SQM loan does not eventuate, based on KDR's website, Martin Donohue who "had over 15 years’ experience in equity capital markets ...and raising capital" will surely have plan B and C in place already to ensure on going availability of fund. Last minute CR will be out of question as this will destroy the SP and Martin's credibility himself.

With reference to the grade, I sense that the tone of the announcement indicates that Kidman is not happy with the outcome of further metallurgy testwork done since Mar/Apr which results in only 5.8% grade. They seems to expect the further testwork would confirm at least 6.5% grade or higher, hence the comment that "more work is required to increase the yields to acceptable levels (of at last 6.5%?)".  This (lower or higher grade), can potentially have a material impact on the outcome of the FS as the higher the grade the better it will help in the a reduction in capital costs and low operating costs for a gravity only process (refer Mar/17 announcement).  Despite this speed bump, I find it's exciting to read this comment from the update "the mineralogica analysis....in conjunction with review of regional geochemical data.....Kidman believes there is a strong opportunity for the discovery of further Lithium-mineralised pegmatite within the existing land holding". Potential for more resource higher than 128mT if confirm?