Ann: Mt Edwards Lithium Project Update, page-24

Halpo,

Yes but using the words "near term" is a bit of a catch all expression at the moment when it comes to lithium explorers/developers. Drilling up a deposit isn't what takes time. It's proving the technical and financial merits of a mine, gaining funding, gaining the permits and building the infrastructure that takes time. ESR's connection with NMT, an established producer with established Chinese industry connections/ownership, might just put ESR in the box seat if the grades and depth hit the sweet spot. This has a very good smell to it in my opinion. If they can get a shallow high grade deposit this could be mined very quickly. Granted mining leases, nearby existing production centre and what sounds like a customer chaffing at the bit before one hole has even been drilled. I find the last part of the announcement interesting. It's like they want to pre-empt speculation that could have leaked out if these negotiations had have remained 100% confidential. What someone has seen in that core shed seems to have excited a few people by the looks including me. Esh