Ann: TAW: Tawana increases Cowan Lithium Project area, page-17

Hi andres

Thanks for the reply.

I don't think there is any doubt that AB is a huge asset. The pathway to commercializing it will depend upon finding a JV partner for MCT. The recent PFS boosts confidence in a positive outcome. In the interim Lennard Shelf will likely transform MCT into a small zinc producer.

Below is the map showing MCT's tenements. In the recent roadshow Lake Cowen [which is located well in the South] didn't get a mention so good chance this decision to sell it has been in the works for a while. The remaining Li tenements are close together and much nearer to everything MCT. The presentation states the Stannum and Pilgangoora tenements enjoy "excellent nearby processing infrastructure and access".
The Stannum grades so far are not exciting, but they can probably be improved [due to the discovery Stannum contains albite] but the drawback for that deposit is it is a little deep. Pilgangoora North, on the other hand, is near surface. If Pilgangoora North replicates PLS' tenements then the Li assets will be at the least as good as the zinc but minus the uncertainties about getting into production. It could all happen in 12 months.