Ann: Presentation - Investment Outline Arcadia Lithium Project, page-10

Disagree! Look at the PSC web-site:
http://www.prospectresources.com.au/company/corporate-governance

Hawkmoth owns 90% of Arcadia (who has the remaining 10%?).
PSC owns 70% of Hawkmoth. Favic (indegeneous Zimbabwe) owns the other 30%.
Furthermore Favic has to right to obtain an other 21% of Hawkmoth through Prospect Singapore shares.

Current: PSC 100%--> Prospect Singapore 70%-->}
} Hawkmoth 90% -->Arcadia
Favic 30%--> }

Future: PSC 100%--> Prospect Singapore 49%-->}
} Hawkmoth 90% -->Arcadia
Favic 51%--> }


So currently PSC owns 70% of 90% = 63%
In the future PSC will own only 49% of 90% = 44%