External News & Commentary, page-571

Have you seen Peidmont (PLL) today. Hit 80c and had a 30% price increase on no news, surprised they didnt get a speeding ticket.

I firmly believe INR are in a far better position, so this shows us our future potential.

INR has room for expansion, a longer life mine and more raw material - ie we wont need to secure competitive supply offtake like PLL are in SYA. We don't need to compete for a supply source as we have our own.

Our products can be produced at lower cost. So during downturn in pricing we will have good survivability. A long with diversity in a boron market which will again keep the company ticking over as borons market has been relatively stable for long periods of time.

Have full Lithium Offtake to come, havent made the mistake of selling supply to Tesla at a discount during a poor market price just to try establish relations.

Have a wider array of customers - We have boron, lithium carbonate and lithium hydroxide.
Not to forget that we are stockpiling clay, so if that ever gets commercially extractable we have hidden bankable resource in this asset.

If we get the funding for the project we have a lithium processing plant of our own. IE we can buy other companies lithium feedstock if capital isnt available to fund additional self supply and convert others to battery or other specifications.

Apart from Lithium Americas (clay - is it ready yet?) and Albemarle (small resource) we are the most advance lithium mine on the west coast of USA.