Hi NAF,Understand where you're coming from re. LTHs. I refer...

Hi NAF,

Understand where you're coming from re. LTHs. I refer this mainly with regard to holders who have hung around from the period of Pre PFS to Production start (50c all the way to $2+) and back down till the present. This is whom i refer to as LTHs in the case of E25. I respect that some may be disgruntled to have stuck in while the price has retreated back below $1.

Personally, I exited as production was rolled out. I've been told and read too many times to be careful in that first 12 months of production as companies toil with nameplate. There's a number of Lithium companies that i believe are going to enter this period over the next year or so and will be watching for similar scenarios to play out.

All in all approx. one year (give or take) from PFS to production with minimal Share dilution and a cash balance of close to $22 million at the half way mark. Add in Covid/Ukraine plus inflation. Hence why at these levels I deem it to be a solid re-entry point given the company catalysts/news due over the next 2/3 quarters. In particular re. obtaining a binding Off take for Battery grade during the next quarter.

Each to there own though, am simply presenting a different angle to E25 as more recent re-entrant.

With regard to fixes they have or are presently addressing or are being implemented, (see below from Q1 Quarterly).

Each of these areas has been analysed in detail and in each case, solutions are readily available and low cost. In summary
each of these areas is being addressed as follows:

1. The ROM has been redesigned to provide for the sub 65mm material to bypass the jaw crusher, eliminating the
need for the grizzly and reducing the load on the jaw crusher and the risk of unplanned outages due to
blockages.
2. A maintenance planning consultant is working to improve the maintenance planning function and shift outages
from multiple, unplanned outages to fewer, planned maintenance shut-downs where preventative maintenance
can be undertaken resulting in improved uptime and allowing the equipment to be operated at closer to design
conditions.
3. Improvements in sorting algorithms and material presentation to provide for better sorting effectiveness and a
reduction in dilution

Management need to demonstrate this over consecutive quarters (Q1,Q2 & Q3) to exit 'year one' successfully and to cement nameplate but the below excerpt was what was looking for. From little things...

Mining has and continues to perform to planned production rates
with current equipment showing sufficient capacity to meet the immediate and medium-term production requirements.
The free-dig mining method continues to ensure operating costs in line with forecasts. No bottlenecks are foreseen in
this area

Wish you well sincerely. I'm not here to prove you wrong or the like or start an on going argument. Will be switching off for the weekend and leave HC behind as it gets a little all consuming at times. In any event, the US markets have taken an absolute belting overnight so am thinking Monday will be a rather good day to look away from the screen!