Ann: Strong Spodumene Modal Estimates at Cancet Lithium Project, page-115

PLL understand their deposit much better than MTC understand theirs. PLL reporting on drilling is very clear, a monkey could easily understand not only the results but also where the drills hit Spod, how wide the intersect was and what the actual deposit looks like. MTC have great grades but terrible reporting of drill results and I’d even suggest results are purposely confusing because MTC does not want SH’s to know that the resource is as small as it is IMO.

MTC has more work to do and is at full value, right now, until such time a resource of at least 5Mt is defined which won’t be til early next year or even mid next year.