Delta Lithium General Discussion, page-981

Just to comment on potential values going forward, this was put out by a finance house for WA.

• Every 10 million tonnes of potential spodumene resource creates $80-$100 million of exploration value.
• Every 10Mt of resource that has a clear pathway to production creates $150-$300 million of speculative development value.
• And finally, when in production, every 10Mt of mining inventory is valued at about $1.2 billion (at spot prices).

So in essence, even a “small’’ discovery of a 10Mt resource (our big lithium deposits are 150Mt or more) is a serious value-rerating event.