annual report, page-3

From the report

Just the lithium aspect - iron ore and the rest was good too

Not that it really needs an upgrade but..

We announced a JORC compliant estimate of the resources being 70,000
tonnes of lithium equivalent metal, and 2.48 million tonnes of Potassium and this will be upgraded
shortly as a result of the completed hydrological and engineering work completed over the year
where average porosity was measured to be between 32%-36% rather than 8%.

Also FUNDING is hinted at...

As part of our funding strategy we are seeking to sell 10% of production (1,700 tonnes of lithium
product) in a tender for ten years (17,000 tonnes in total). Our clients will pay as a lump sum the
“operating profit” component discounted on a historical cash flow basis. This money will be used to
build the final plant. It will be supplemented by bank debt and project finance.


I thought the report was a great read