Ann: Strong Spodumene Modal Estimates at Cancet Lithium Project, page-117

Hi Montrachet,

I completely agree with Dion that PLL have a far greater understanding of their resource and therefore their figures are much more reliable. For the purpose of comparing potential I provide the calculations below based on the six drill logs you provided for PLL and the seven I analysed previously for MTC. Please bear in mind again, however, that PLL is an actual Lithium oxide estimation whereas my figures for MTC have been derived from their estimate of spodumene.

Also, PLL did not identify a LiO2 percentage estimate for the total thickness of each drill. The portion not identified I have assigned an average of 0.80% purely because they have identified a resource at 1.02% in their results. I conclude from this the remaining sections must have registered less than 1.00%. I also don't think that every unidentified intersection would have registered 0.99% so have used 0.80% as purely a best guess as to what it might be. (Please note that had I used 1.00% it would have increased their overall average % to 1.32% from the 1.25% in the table below)

That being said, and recognising the fact that MTC is a much less certain outcome than PLL I would offer the following comment.

Strike intervals are generally smaller at MTC (avg of about 11m vs 19m), although at generally higher concentration (avg 1.56% vs 1.25%).

This aligns with Dion's comments about excellent grades that MTC have that need to be proven up. I'd also like a few more of the actual test results (due in a couple of weeks) come back with similar numbers to Estimate 1 (which is about the best I have seen - although I am still a novice)

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9
0	PLL	Thickness	LiO2 %	Lio2 Est		MTC	Thickness	LiO2 %	Lio2 Est
1	TOTAL 1[/B]	25.22		0.262		Estimate 1	16.40	2.41%	0.395
2	Identified	5.40	1.46%	0.079		Estimate 2	12.57	1.61%	0.202
3	Identified	2.65	1.24%	0.033		Estimate 3	4.14	2.81%	0.116
4	Identified	2.00	1.43%	0.029		Estimate 4	4.89	2.01%	0.098
5	Remainder	15.17	0.80%	0.121		Estimate 5	7.61	1.61%	0.123
6	TOTAL 2	21.92		0.275		Estimate 6	25.32	0.80%	0.203
7	Identified	8.86	1.72%	0.152		Estimate 7	4.25	0.80%	0.034
8	Identified	8.04	1.02%	0.082
9	Remainder	5.02	0.80%	0.040		TOTAL	75.18	1.56%	1.171
10	TOTAL[/B]	18.66		0.263
11	Identified	6.27	1.39%	0.087
12	Identified	4.21	1.83%	0.077
13	Identified	2.26	1.52%	0.034
14	Identified	1.68	1.83%	0.031
15	Remainder	4.24	0.80%	0.034
16	TOTAL	18.64		0.223
17	Identified	6.66	1.59%	0.106
18	Identified	2.68	1.58%	0.042
19	Remainder	9.30	0.80%	0.074
20	TOTAL	14.08		0.187
21	Identified	5.03	1.98%	0.100
22	Identified	2.04	1.52%	0.031
23	Remainder	7.01	0.80%	0.056
24	TOTAL	12.97		0.179
25	Identified	10.36	1.53%	0.159
26	Remainder	2.61	0.80%	0.021
27
28	TOTAL	111.49	1.25%	1.388

These figures are my personal calculations only and are not meant as advice, merely for the discussion posed. Please DYOR and good luck all.