Ann: Lockyer Deep Operational Update, page-68

Maybe, the overriding decider for drill locations however will be determined by the quickest route to reserve certification. The overall size of the resource is a secondary consideration for CE. His objective is to get to a FID ASAP for an iron ore pelletising plant or a spodumene to battery grade lithium plant or both. Each is highly commendable as a high value downstream process. He intends to build a modular gas plant so it can be added too as further reserves are proven up. This pedal to the metal approach will determine much that may seem inexplicable to some and sends to bed all these conspiracy theories about deliberate delay tactics. This approach of rapid certification, rapid FID for the gas plant followed by downstream processing is laudable. I doubt he has much interest in the small % of the gas project he doesn’t already have and one needs to consider that he may actually believe his own “no brainer” rhetoric. I just want a higher value for my little percentage. I don’t see it interfering with his empire build.