Ann: Latrobe Magnesium IMARC Presentation, page-7

Just to point out a few things that some forget or some just choose to ignore.

Firstly

LMG have reiterated time and time again that Zero CO2 is their goal. LMG believe they have the capability and the opportunity.

The 10,000tpa PLUS has been ear-tagged to reduce its CO2 emissions from gas use for the furnaces by in time, tapping into the very close (Within 1 K) solar farm and planned batteries (for continuous flow). The solar farm and battery establishment has been mentioned numerous times. (See previous announcements for yourself)

N.b, Don't forget LMG's offtake agreements with America and Japan


Secondly

The price for Mg used by LMG to date had certainly been conservation, since the massive spike in price/tonne in November 2021. The cause for the spike was a result of Chinese power restrictions and environment controls.

Since November 2021, the world has been scrambling to find sustainable, reliable and secure magnesium supply.

Yes, the price for magnesium has settled, only due to Chinese Mg production returning (For now).

Does the Chinese Mg return to production appease the Global concern? (See articles regarding even America's funding for critical minerals from anywhere but China) See how Germany and other countries in the EU are scrambling to find other sources of magnesium apart from China.

Does the Chinese return of Mg production even slightly influence the Global political determination to swing drastically away from China in an effort to remove reliance. Not for a moment!

The demand for Mg is forecast to exponentially increase. Some analysts forecast an increase in demand of 100% to 2 million tonnes by 2028 due to EV's and aerospace requirements.

Add to demand the move away from China and the squeeze on supply in addition to global demand for serious CO2!. There is a starving market and every opportunity for price increase.

Thirdly
LMG's feedstock binding MOU for ferro nickel slag for its 100,000tpa Mg plant with the New Caledonia nickel manufacturer. The ferro nickel slag processing through LMG's Hydromet process has no SCM from feedstock of ferro nickel slag. Therefore, the Mg output is far higher and potentially understated.


Lots of info pending and the PFS A and in turn B may be monumental in redefining LMG.

The successful commissioning of the 1000tpa plant and then expansion to 10,000tpa PLUS, will be an opportunity for a significant re-rate IMO.


Regards

Ken