Hi Oznt Thanks for an update and looking forward to confirmation...

Hi Oznt Thanks for an update and looking forward to confirmation of dept funding. After all this is the best outcome not dept/equity that dilutes us. Two different camps going at the moment with one affirmative for dept/equity the other looking at just dept. Why are these off take partners not being signed to binding? Using the spot market price as reference for not signing off take partners till later is limiting us from achieving dept funding.

The odd part of the previous model was for dept/equity funding. Very hard to raise dept funding when you are not signing binding agreements although there is great interest in our product with each off take partner all wanting 100% of production. Time these off/take partners were singed IMO to support dept funding.

Taking a look at PLS keeping mind the margin curve for lithium is less than 60% of what Walkabout Graphite should achieve according to recent bench mark pricing. Walkabout Resource have a World Class Resource in Lindi open all direction's.Notice the start up capex of PLS at 234 million with an IRR at low 38% yet they continue to secure funding from off take partners. Sign the off take partners up ASAP IMO. Can not be long now...

Walkabout Resource have indicated an IRR at 86% from a conservative DFS while GPX have also indicated a pay back under 8.4 months for 80 million capex from a higher cost lower margin operation. It's all about willing customers to stump up finance.

Pilbara Minerals off /take partners had previously committed to provide 100 million in funding.


Walkabout Resource also are expecting results from Namibia spodumene samples below a thin veneer cover. Large flake crystals have been noted in spodumene. How can you get a car loan if you do not have an income. Why are these off/take partners not signed for Lindi?

Croc