Ann: Pirra Lithium secures highly prospective Pilbara ground, page-35

hey load,

hope u r having a nice weekend

any model is rubbery at the moment, but my rationale was based on

- current debt 97M now
- 6 months gives breathing room to get up to full production around 6500 oz p.mth, whilst still continuing other growth activities. I did say allowing for principal payments if surplus cash available and I expect they would (but without pressure)
- yes I have a target of 6500 oz p.mth within 6 mths, you have 5000 oz so differences in our models. You are doing current I’m doing forecast my own forecast.
- remembering that aisc reduces naturally as oz grows so at 6500oz aisc should be somewhere around 1800
- at that point (6mths time) we would be able to afford say 90M over 3.5yr P&I
- I cannot see though how we can develop BS out of cash flow as previously planned, CR for that likely although at much higher prices, no big deal

all of this really is conjecture, as any forecasts (good or bad) must be based on best guesses, and finance restructure could take a multitude of options