Ann: Significant Goulamina Resource Upgrade 48% Increase to 211Mt, page-37

211Mt resource is based on 0.5% Li2O cut off!
And the resource still remains open along strike and at depth.

141 metres at 2.15 % Li2O, from 81 m (GMRC703)

No wonder, the stage 3 is mentioned. Looking at Tianqi's Greenbushes expansion plan, LLL & Ganfeng's Goulamina stage 3 probably will be 2 years after the stage 2, around 2028, my guess, this further expansion is aligned with Ganfeng's 2030 target of producing 300Ktpa LCE from last year's 120Ktpa LCE. Ganfeng does need lithium materials to meet their aggressive expansion plan, imo.