Ann: Quarterly Activities Report - March 2023, page-16

Ohhh diamond drill ‘sites’, good to get a clarification half way through the program. Mention of six diamond drills in previous announcements , so three more sites to go I guess, not counting the wells as a site. potentially the ones in the 100m are failed boreholes. DFS for the potential 25kt plant looks like mid next year.

one month gone in this quarter, let’s see if JZ can pull it off this quarter with the sound of an election lurking ahead, walking on thin ice for politicians. We also have the best timing

1. why this year there is an election
2. when we had the initial 10kt plant strategy nutted it out, there is over supplies , no interests
3. when we changed to 2kt plant step up strategy, Covid hit along with oversupply, took nearly a year then decide CR fund. When we start construction the lithium sentiment improved.
4. sharp drop spot price in recent months when we about to start 2kt plant production but still a lot favourable than long term pricing