Ann: Robust Results for Colina Lithium Project PEA, page-120

I think what the PEA really tells us is Latin WILL be the next Sigma. This PEA is similar to Sigma's stage 1&2, and its pathway almost 100% emulates Sigma's but in a much faster pace. In 2029 and 2030 (when PMT will possibly complete construction/early ramp-up phase if no more hurdle from the government and the First Nation), Latin will produce 600-700kt sc5.5!!! similar size to Liontown. I do believe there will be more reserve to be identified before they reach the full production capacity. Then this chart will be revised to be a constant production rate at 600-800ktpa, certainly a tier-1 producer. So I am not convinced how latin should be cheaper than PMT. $1700 sc price is very reasonable and the predicted cashflow is not a dream at all. In addition, I am not sure how CXO can compete Latin in terms of production capacity. DYOR.