Comparative Timeline - MtIda vs Yinnie, page-2

It can take anywhere from 5 to 10 years to go from being a developer with an MRE (mineral resource estimate) to a producer with lithium mining in Australia. The time it takes will depend on a number of factors, including:

• The size and complexity of the project
• The availability of funding
• The regulatory approvals process
• The environmental impact assessment (EIA)
• The construction and commissioning of the mine

In general, the process of going from developer to producer can be divided into the following stages:

1. Exploration: This stage involves identifying and assessing potential lithium deposits.
2. Development: This stage involves further exploration and testing, as well as obtaining the necessary permits and approvals.
3. Construction: This stage involves building the mine infrastructure, such as the mine shafts, processing plant, and tailings dam.
4. Commissioning: This stage involves testing and commissioning the mine infrastructure to ensure that it is operating safely and efficiently.
5. Production: This is the final stage, where the mine begins producing lithium.

The time it takes to complete each of these stages can vary depending on the specific project. However, it is generally expected that it will take at least 5 years to go from being a developer with an MRE to a producer with lithium mining in Australia.

So best scenario for Yinni is an MRE before the end of 2023 and production by 2028, which is the same approximately as for AZS. Ida on the other hand can begin with DSO before the end of 2023 with funds to help grow and define a Tier 1 deposit at Yinni.

Hope that helps.