AGM scheduled for 22 November 2022. The main topic of discussion...

AGM scheduled for 22 November 2022. The main topic of discussion will be progress of the P1 project. The past 12 months has delivered important progress towards production.

Karibib

• Ball mill and thickener pack equipment tender award
• Geotechnical bulk earthworks tender award
• FEED & Control Estimates delivered
• DFC technical due diligence completed
• Successful drilling campaign

Demonstration Plant

• Upgrade to plate filters proof for final design
• Doubling of output capacity to halve the scale-up for P1

KIZAD

• Musataha Agreement signed
• Greenhouse gas assessment completed
• EPCM Stage 1 completed

Marketing

• Traxys off-take agreement

Executive Team Appointments

• Project Director
• GM Sustainability & Namibia Country Affairs
• GM Operations, KIZAD

Phase 1 is new: new process and new technology. LPD has demonstrated that it can take an unconventional mineral feed and extract lithium, Cs, Rb and other by-products that no other company has done before. The project and technology are robust.

Some slippage is not unexpected, even when estimates from the groups involved include contingencies. Investors look at the direction of travel. Since the decision was made to buy the mine in Namibia and locate the chemical plant in Abu Dhabi in 2019, the progress has been significant and the achievements substantial.