Ann: More Wide High-grade Lithium Intersections at BP33, page-39

Although a $70 mil bid would get us around 11c a share, I don’t think I would accept that, espically given that once BP33 and more of Grants is incorporated into the DFS, plus the fact latest METS have shown that we can produce 5.5% at even greater recoveries, I’m tipping a DFS NPV of near $250mil. $70 mil would be a steal

But if Shandong Ruifu are willing to spend $1.5 billion plus for a stake in Wodgina, what’s another $38 mil re prepayment and placement in CXO for some higher grade spod?

As per the translated article I posted re the latest news with Yahua, seems to me that if Yahua wanna be a long-term big player in the industry, IMO it looks like they wil need more supply then what they have currently got/have arranged to get.

I think Shandong will go ahead with the deal for CXO regardless of the Wodgina deal. But IF they don’t get the Wodgina stake, we could see a bit of a fight by these two big hitters over CXO.

I’m tipping the binding Shandong offtake with CXO to be announced after the Wodgina outcome. So in 2-3 weeks.

IMO

GLTAH