Ann: Quarterly Activities Report - June 2019, page-35

"number of content shareholders" at the AGM.....although i couldnt afford the flight to Perth for the AGM i too am a content shareholder.

Our team is really cost focused and risk adverse by making modular processing plants 2000T/A. Probably help with approvals for smaller applications and also lets the team improve from lessons learnt as they progress to running multiple modular components of a very large scale operation. It also allows for more customers and different processes as we gain more customised products and different customer requirements...and allows for efficiency in slightly different chemical composition in different ponds by having modular design.

This matches the modular tried and true method of evaporating ponds to concentrate Li....need more lithium build ponds and turn the pump on. We then have a war chest to direct funds to the best bang for buck and all the while start bringing in production profits rather than bite off more than we can chew by building a full production plant. This puts the cards in our hands for future funding and makes for a very safe company to invest in. (no longer a specy but battery grade producer) We would be stronger to negotiate with a partner if we say hey we'll chip in 75Mill can u come up with 75 Mill ? ...but we only need 10 Mill for now because we are building modular and profits and proof will come before the next payment is due

The modular approach matches the possibility of digging deeper holes to extract more brine...and or expand laterally as need be as we go.