Ann: Quarterly Activities Report, page-162

Hi Sabine - on a different forum!

I don't follow AJM closely, but read the qrtly and have skimmed the comments above. I may have this wrong, however, it seems to me that AJM were reporting recovery at 65% for the June 19 qrt with a 1.1% LiO2 ore and reported that recoveries peaked at 70%. I thought this was very impressive at the time (especially as others were/are struggling so much with recovery).

However, last qrt they didn't report recovery ... then this qrt AJM states that recovery has "improved" to 63% from 1.21% ore ... up from 58% in the previous qrt. Given how they were going 6 months ago with lower grade ore and their DFS targets, that looks disappointing to me. Leaving the numbers out of the last qrtly doesn't impress me either.

So just a heads up, leave it to you to investigate further if you wish. Please let me know if I've read things wrongly.

Cheers, Simon