Ann: Research Report, page-15

Hi mate

With respect, I read a lot of your posts & agree with 95% of everything you say but I don't see any value in splitting the company until we have our lithium carbonate/hydroxide plant up & running with the ELi process. Because until that happens all we have at the moment is management blowing smoke up our you know what.

If the company splits now & potential investors take a look at the new lithium company what will they see? I presume a 13.8% interest in MT Marion (which they wanted to sell but then changed their mind), a pilot recycling plant yet to produce a dime, a potential lithium find with HNR, who knows what grade they will find & they will be years away from production & will mostly likely sink into a massive amount of debt to achieve it & talk/plans of this & that.

Not much value there compared to the potential of other lithium companies on the ASX who own 100% of a mine, are producing, no debt & have secured LT offtake partners & lithium carbonate deals.

I believe the split would turn the new company turn into a "speculative company" which NMT would own a share of.

If NMT remains a whole for the moment, it can pool assets/resources from different parts of the company to prop up the other.

If/when the plant is up & running by all means split the company any which way you want, because by then it will have value through production, income & assets. That would return value to share holders!

I believe income from MT Marion or the recycling plant is essential for our SP to move higher.

IMO