Banter and General Comments, page-5064

https://investorintel.com/investorintel-video/galaxy-resources-280-million-dollar-posco-transaction/

AT: ..."The interesting thing about that transaction was, we have a substantially large tenement holding to the south of that part of the salar and we managed to structure the transaction where although we were selling a reasonable level of our resource it actually did not have any impact at all on our reserves or the project. The 1.1 million tons of reserves for the Sal De Vida Project actually remained 100% intact. We actually still retain a little over 4 million tons of lithium carbonate equivalent. Essentially, we were able to sell a certain portion of our tenement package and obviously for significant consideration, $280 Million U.S. dollars gross. That will allow us to continue to develop the project. We have not actually technically sold the project. We have just sold a little bit of what I would call resource upside. Essentially at 1.1 million tons of reserves we already have a very long-life project. It is a 40-year project life project for us as it is today. Importantly the proceeds of the transaction will actually be applied for developing the Sal De Vida Project going forward."