Ann: Macquarie conference presentation, page-17

The crystallisers.... I am feeling some concern about this solution. Just some recollections going through my mind about the use of flocculants to clarify the brine before the primary circuit - to avoid blocked heat exchangers, etc. It feels like there is a risk that we might revisit past problems. Not my preferred solution to the february problem.

The infrastructure layout... I don't know, but I would guess that there is a layout drawing with areas ghosted in for future ponds, future processing plant, future warehouse, etc.

FID... no question in my mind that it is as good as a done deal. TTC and ORE are aligned on that. The state of permitting suggests that JEMSE are also bought in to the idea. I think the formalising is around the debt facility arrangements. Yes, the project is fuļly funded but the Japan Inc cheap money debt facility leaves ORE with many growth options

They won't change their minds on expansion... I think the presentation was simply reassurance to shareholdrs that the MS view of lithium was a simplistic, johhny-come-lately, once over lightly view of the market. QED.