Ann: STRATEGIC EXPANSION OF RINCON LITHIUM PROJECT JOINT VENTURE, page-8

Have a read of PL3 announcement, Mingjin having ODI issues and from memory that Santa Ines project was a duster with zero gold? So 500k is a good outcome IMO.

PNN still own 41% of Pocitos (which makes this deal worth circw 2.5m US) in a hard market and it critical for infrastructure if they want to become a producer.

This deal tells me Rincon JV is progressing well with this partner and they actually looking at what’s needed to move into production - that is water, electricity etc So the Rincon project won’t be viable without this strategic move. You are looking at numbers from the outside while the Rincon JV partners are thinking how do we move to production.

While other lithium companies are doing nothing, these guys are planning to move to production. I expect Rincon to be bigger and better than AGY after this acquisition. Good luck finding better infrastructure than Pocitos in Argentina. I would expect a pilot plant to hit Pocitos in the near future.

Plus all the work happening in brazil, it’s easy to pick holes in juniors but I’m happy with the strategic business playing out here.


ALL IMO