Ann: Quarterly Activities Report, page-6

I'm not as negative as some here.

They have generated some serious cash from My Marion and yes they have exited but there are a lot of current and potential competing lithium resources/projects in Australia and overseas.

Barrambie has potential - we need more information on the project economics but there are growing markets for Vandium and Titanium and by my admittedly limited knowledge much less potential and existing supply to compete with compared to litium (which also might well be superceded by some new battery technology). Barrambie has a mining license and environmental approval ( subject the the pending application to extend implementation which you would have to assume will be approved and approval of the mining proposal they have submitted).

The battery recycling plant in Canada and refinery here seem distractions - quite why they would bother with a peripheral project like the plant is Canada escapes me.

There is $130m cash in the bank, a resource that has some quite reasonable potential - on balance not a bad situation IMHO provided Directors focus on Barrambie to finalise project go/no go feasibility without burning to much of the Company's cash.