Ann: RC Drilling Update for Pippingarra Quarry Project, page-33

Lithium stocks rebounding across the board after yesterdays substantial losses. IND was one of the worst performers in the space and is down another leg today.

The huge volume IND traded yesterday ~2.5M does make me a little sceptical as to whether someone has some inside news on early visuals etc, but that is purely speculation. I think it is more these case 1 or 2 larger sellers getting out and triggered stop losses. Will need a day or 2 to see it wash through.

Samples of Li and REE should give a small glimpse on what could potentially be here. We know there is a high chance these come back positive giving the 6M 3.7% Li assay they had on hand already. These samples come back Late Dec.

Assays for the ~3,500m in late Jan will give a better idea. Sounds like majority of initial holes will be 100M deep to test flat lying pegmatite, but will utilise 2nd rig that can dig to 200M to test Li at depth.