Ann: Positive Lithium Downstream Processing Feasibility Results,MIN-NMT.AX, page-33

This really looks bad!!

If I compare it to NMX (Nemaska, Canada) who are doing something very very similar the numbers are very poor.

NMX assumed a LiOH price per ton of merely $9500 for its DFS, significantly lower then what NMT has assumed for its DFS.

Production costs for NMX are derived to be $2693 and $3441 per tonne of LiOH and LCE respectively. Very significantly lower then NMT is getting.

Despite its much lower price for LiOH NMX arrives at a staggering NPV of $3000m for a production of 27500ktpa LiOH (and some LCE). Seems the method they are planning to use is significantly more cost efficient. Maybe NMT should really have a talk with PLP and/or LIT and see if there are no better ways of doing this.

Also I do not understand why they are planning to build the plant in Malaysia!!? I thought the idea was to make Australia more important in the whole scheme of the "new gold" if not "new oil" business!? If you build this plant just next to your mine you are bound to safe a lot of costs in shipment....

So, on first glance, I really do not like it. Have to go over the NMX DFS once more and compare the numbers in more detail with what NMT is quoting here. But there seem to be some HUGE differences very much in the favor of NMX....