Ann: Outstanding Initial Well Test Results at HMW Project, page-14

"Just what the doctor ordered"

i note that the cp for this ann dr luke milan is not a hydrogeologist, yet the report included hydrogeological information. as someone who works in the brine hosted resource space this is concerning. any ann that includes test pumping results should have some hydrogeological technical comment.

i will also caution investors around the expected flow rate of 15 - 20l/sec per well comment. caution is warranted in two areas, first the flow rate, second the length of time the well will flow at that rate. i am very sure that some of the wells will flow at the stated rate for some of the time, and this is great news. the long term test will give us the information needed to assess how long that pump rate can be sustained, so that is a very important piece of technical work so keep eyes out for that (hopefully signed off by a qualified person, srk?).

all of the test pumping and hydrogeologic work will come together in the dfs and associated resource reports, that is where we/investors should be looking and assessing the long term prospects for the project. for example, how much product is necessary to make a viable project? how much brine needs to be pumped to produce that product? with pump rates, how many wells are anticipated to be necessary? what is the cost of installing a well in argentina?

i am neutral on this project and am sharing the above information after observing brine hosted mineral projects around the world with some recent spectacular failures (eg so4). as always dyor, the above is just food for thought.