Ann: Quarterly Activities Report, page-5

COMPARING   4Q18  To  1Q19  We can notice a substantial reduction in quantities of iron ore and Lit DSO 

Iron ore shipped Qnty  dropped from 2215 To 1620 .       that's 73% of the previous qtr  not sure of price received

Lit DSO shipped  Qnty      dropped from 754 to 422            thats 56% of the previous qtr.       price could be slightly higher for last qtr

SPOD    nearly equal amount sent with higher grades this Qtr  with mostly 6% LI  concentrate.

These  large variation for the first , second and probably third  Qtr as well,  will impact revenues,  as first train of 250,000 spod " is expected to begin commissioning in Q3 FY19" with the 8 weeks delay announced.

This annual fluctuation in revenue plus the uncertainty of the spod plant success as well as pessimism around Lit future price  may have produced the downward pressure on SP. 

(  markets in volatile times could be short sighted and nervous,       large funds work and milk  it to their advantage and short the stock)

All that can be wiped out on the day an announcement  of the Wodigina partial sale for a large sum. 

Lit prices as i understand are holding well and are negotiated higher.

Management has announced that there are some local and overseas  parties keen on investing in Wodgina,   by Dec /18 the market will know either way with MIN keeping the option to go all alone if they wish.

Once all is working and the big bucks roll in  as of  4qtr19  and onto FY20  WE Then start to look in to the next  jump in scale with the Lithium Hydroxide plant.   definitely interesting times ahead as MIN is  transforming. 

Long term  i am a happy holder , the  Div is a huge incentive.    will buy more  on lower SP