Ann: Rincon Lithium Project Update, page-179

You're absolutely wrong on most accounts, and may still be a bit under some false-illusion.

There is no "commercial volume plant" that you allude to (ie. 10ktpa), without the 2kpta being fully operational to nameplate. Putting the 2k on pause in it's current state - being able to produce a fraction of what it's meant to - means when or if the time comes to proceed work on it, they must start where they left off. That is, still unable to get it up and running to spec.

The excuse of the lithium price is such a cop out by the company, they must have zero respect for their shareholders whatsoever. They're essentially telling us with $12m in the bank, they believe they still won't be able to get the 2ktpa up and running. I'll tell you what, it would be much easier getting it running to nameplate, then using the excuse of lithium price to put it into C&M - that way they wouldn't have trouble finding investments if all they're waiting on is spot prices.

Now what they've done, is put themselves into a situation where they'll have to put their hand out for money, in a project that is under C&M, that once out of C&M, still doesn't work.

I think the seriousness of the situation hasn't hit home yet.