Ann: Quarterly Report - March 2018, page-116

It matters little if pricing is industry record when GXY cannot produce 6% spodumene to get that full price point. Recovery % and spod grade % both excluded in this reports, market is hammering them for it. Too much info left out and the only reason you would leave it out is because it is bad. I bet it’s less than 5.5% spodumene so they will Be getting a lot less than the “industry record”. I know for TAW that it is +\- $15 for every .1%. Is that true for GXY? If so then you can expect at least $75 p/t less than the 6% price (5.5%) but maybe lower....we shouldnt have to speculate on these figures.