Ann: Zero Carbon Lithium Project Update, page-12

I actually like this ann. Like prospectors, we seek out the traces of gold and hope for nuggets!

1. They did a smart thing getting drilling rigs - Germany is in panic mode to go full on getting out of Russian squeezing them
2. The push for more hot water energy to the locals is social license gold. We give you energy not at risk from the Ruskies, and you stop bugging us environmental. What do you want? Drilling rig or Russian tank
3. I thought the small lab excellent. Fit for purpose. They are not CSL
4. Pilot plant on track. That is key. With DLE it is having multiple small repeatable units. Not one great big Abermarhle type extraction. Like Lake.
5. So this is a 1 to 200 scale. So they can build 10 of these, ramp production with existing geothermal plants, be cash positive while they scale to build the bigger one. Or even scale this from 1:200 by 5 times to a 1:40. Then rather than try to ramp another 5 times, simply make 5 more identical units. Lower risk. Once cash positive and operational then it moves from "unproven" to "scaling".