Our DSO ore will now be any less than 1.2% and will not be sold...

Our DSO ore will now be any less than 1.2% and will not be sold any less than $500/t I believe. CXO was selling its 1.4% DSO at US950 before but the spod price was higher at that time.

The Chinese spot prices for different lithium products in China are all misleading for us. There are many different types of ores there. Some ore even comes from Afghanistan now, some from lepidolite.

The quality of DSO ore and impurities in it are the most important things to be considered by the process plants in China.

Another important point still many people don't understand "not all lithium is equal" principal. PLS announced on recent quarterly that it was selling its 5.3% spod at US3200/t, and added that that implies to US$3700/t in 6% SC6 basis.

I always said that that's not true. The price is not increasing linearly by the grade. That' a BS.

Here is the proof. IGO announced that their ave. sales price for SC6 of Greenbushes has been US$5300/t in Q2..!

Where is PLS's claim for US3700/t and where is Greenbushes sales price US5300/t for 6% spod?

Greenbushes is the only mine produces SC6. That's the reality.

Then LTR will be the next one.

Therefore don't believe the BS in the market even created by the industry leaders. Everyone talks for their own advantage.

LTR's ore is premium quality. Even its DSO will be very high quality.

If LTR can achieve $600/t for DSO, even at US500/t there will be no need for extra money.

250,000 ton x$US600/t = US$150m = AU$230m
300,000 ton x$US600/t = US$180m = AU$276

Now,

• DSO project sanctioned into execution, with contractor and equipment secured.
• 70kt tonnes of DSO material has been stockpiled and that will reach up to 300kt prior to spod production.
• From now on the stockpiling will be much faster because the mine is now much more advanced.
• Customer engagement is well advanced..,
• First shipment targeted by end of calendar year 2023.

I'm patiently waiting and following the EV sales records, also calculating the growth rate of EV sales which is going ballistic.