Ann: Live investor briefing, page-43

Let's be honest. Spodumene/Lithium isn't exactly hard to find.

At the end of the day, the "deposit" is only worth what someone is willing to pay for it. Manano is huge, but like Goulamina, it's not worth anything until it's either developed (very hard for a spec to do by themselves in Africa) or someone pays you money for a piece of it.

We have now realized some of that perceived value, something that isn't an easy thing to do.

Compare this deal to the one we got for N'tiola and Viper back in the day - Reserve of 70koz ($US91million @ US$1,300/oz) we were paid US$1million and a ~4% NSR.... They don't even compare..

Let's not forget, they've already brought us a company making deal in the Morila mine purchase, so unlocking value in a stagnant asset is a huge win.

It's also a great deal for Ganfeng so you'd think we'd be on very friendly terms moving forward which is always good with a major player.

IMO we're a $500mil MC company with just Morila on our hands and the current resources defined.

Happy Days.

P.s. There are a plethora of targets that Randgold had identified but weren't deemed "economic" back in the day. N'tiola was just one of them.