Chart, page-13506

One of the factors that many miss is how ideal and low cost it is to produce lithium chloride from Salar Del Hombre Muerto. Which has been then used to produce the various forms of lithium required from Carbonate to Hydroxide. One company in France has been using it to produce solid state batteries for some time.

FMC/Livent have been doing it for many years.

Another thing that's worthwhile considering is the defined pond the company has constructed awaiting lining.

I am sure they didn't wake up one morning and say "hell, let's do a little pond here, here and here, then a few bigger ones there, there and there.. perfect!"

There has been a method applied to it all, yet we are unsure what that might be... Just yet..

Obviously some is tied to direct extraction and it seems to me that the company is confident of achieving it even to remove some of the low impurities that Salar Del Hombre Muerto contains.

The modular plan goes back quite some time. The company accepted this to be able to achieve production at a low CAPEX.

If a partner wants to come on board maybe that will change, but what I don't think is that the design of the ponds was done on a whim and there is a bigger picture.

It might be hopeful, but there are a number of other things I have noticed which seem to me that production is not as far off as what is being appreciated by the market.