Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-74

It is rather apparent that the new management team has come in, had a look at what the prior management team pumped up and are now trying to set more reasonable expectations moving forward

Reading through the Quarterly update the DFS / ESIA is now another ~6 months away

Once the ESIA has been delivered to Lake, they then need to submit this to the Regional Government for assessment / Consultation and approval which takes on average of other lithium companies ~12 months

The reality is there is no construction in 2023, likely no construction in 2024, everything going to plan moving forward from here i.e. Best Case Scenario is construction in early 2025 (Assuming no further delays)

How does that compare with what Steve said in April 2022........ I'll leave you to figure out what Steve spruiked vs todays realisation of where the project is at