Chart, page-206

Probably one of those times you need to step back, breathe a little and think logically of your initial investment reasons.

This sell down is once again, unfortunately across the sector and not too dissimilar to what had occurred when Mac Bank released their nonsense last year. I think most holders would remember the knee-jerk reaction to that report and the subsequent buying in that occurred (..by Mac Bank and others), as proven by the broker reports.

Very fortunately for GXY, there is sustainable cash flow and two world class projects which are 100% owned and will eventually have funding finalised. I would seriously reconsider my investment here if Mt. Cattlin did not exist, or if GXY was at least 1-2 years away from steady state production.

I continue to challenge my investment and always ask which other company I would invest in the Lithium space if GXY ceased to exist, and there are truly very limited alternatives that can be compared when you consider all three assets, the geographical diversification and hard rock-brine balance. Do not forget that GXY has done this before (they have the know-how), but was unfortunately too early into the game and got hit by the GFC.

Despite all of this, I still strongly believe management need to step up their communication efforts and an email was sent accordingly this morning. I normally refrain from contacting management but this time was an exception to the rule. I would urge any others to voice their opinion by call/email also.

M92