Ann: Supply & Marketing Alliance with Gulf Fluor LLC, page-67

A quick scan through your comments on LPD for a long period have all been negative so it doesn’t surprise me that your opposed to this. You have previously stated your not here for the long term but just to make some money so I understand you won’t like the share price dropping but it’s really irrelevant for now.

OPEX has been significantly reduced, we have a new feed source and connections into the Middle East. This is huge news for the company and it means we have expanded laterally and vertically.

With our production costs behind heavily discounted there is now more margin per kg of hydroxide which is such a positive in a market where some operators are struggling to make a buck.

This is a massive de-risking for the company and in the short term it presents a buying opportunity. Don’t forget we were in the 1cent range pre GXY capital raising and we shot to 8c