Ann: Presentation at 2017 Annual General Meeting, page-25

One thing that was repeated in the AGM is the fact that Lithium is a very small portion of a "Lithium" Ion battery. It was referenced as a sprinkle of salt in the battery recipe. I personally do not believe Lithium will be in short supply for long due to the fact that every man and his dog has been looking for it and there seems to be a decent amount in the ground. The trick is getting it out of the ground and to market as quick as possible to take advantage of the present shortage.

Only a limited few will actually get to production and many will simply be too late. KDR looks the goods but they are still a long way off production. I feel it is crazy that they don't take up processing with POS and choose to take the long route to market and build their own processor facilities.

With Lithium it's a race to be first producer to secure lucrative off-take agreements before the market gets saturated and it is no longer a scarce commodity. It was the same with Graphite, and will be the same with Cobalt.

Although POS are late to the Lithium party they have a unique advantage. Not only do they have a potential economic resource in the ground. But they already have processing facilities that take years to build and have already spent time researching how to do it. This puts them ahead of the rest.

It seems this is another opportunity that has just landed in their lap.

However I get the impression that because it will be short lived, and their a "Nickel" company they are not overly interested in taking advantage of Lithium. They seem to be more interested in allowing other Lithium players use their facilities.

Is it simply the fact that it is not the big picture for Poseidon? Or is it just too much hard work that is outside the core business?

Yes it requires money to drill, yes it takes money to modify the plant to process. But I really believe they could leap frog the field if they so choose. And if they JV with someone then it has got to be a win win...