Ann: Macquarie appointed to advise on Lithium value Realisation, page-38

Although expecting the demerger to complete in the second half, the start of which is in 4 months time, I think we’ll see a lot of progress before then. If you work backwards, once they’ve decided on the details, it’ll take a month to organise a SGM & get shareholders to vote on the proposal. The prospectus would be published well before the SGM is proposed and of course partnerships, offtakes, finance well ahead of the prospectus.

They did say in todays release

“Discussions with these parties will be considered in parallel with the demerger process with the view of maximising overall value for Goulamina.”

So in other words partnership deals etc will be done when they are able, not necessarily before or after the demerger.

The reason DFS’ quote a NPV for a project is because valuations are based on this, once in production valuations are based on profitability etc. A projects valuation is usually based on a % of the NPV. While we had Goulamina on the back burner, the % NPV valuation would have been low because there was no forward plan to develop the project. The fact we’ve appointed Macquarrie to help progress the project to development just by itself increases the likelihood of development and hence the % of NPV valuation. That percentage will increase with offtakes, partnerships, finance etc.

Also Macquarrie's track record of getting these projects done is another big plus, I'd assume their fee would be based on a % of the valuation they achieve, so they would be confident, a win for them & us. This also puts us on the radar, how many Lithium stock articles do you read that don't include FFX despite having the 5th biggest hard rock deposit in the World.

Wouldn’t be surprised if we get the Koting resource statement shortly, try and get the focus back on gold.