General Discussion Banter GLN, page-6784

A bit of Galan Conviction in the following;

1. Is the technology proven?

“There are few projects out there that talk about clay, direct lithium extraction, and geothermal extraction – these are all unproven technologies at a commercial scale,” Evans says.

“Not to say there isn’t a great amount of potential in these new technologies, but I just see there being a higher element of risk.

“We saw that back in 2016 — even bringing a relatively simple hard rock project into production is technically quite difficult when there is no corporate body of knowledge in the industry.

“Now we have that corporate body of knowledge for hard rock, and we have that for standard brines projects.”

2. How experienced is the leadership team?

“Another would be an experienced team along with that proven technology,” Evans says.

“That should reduce the risk of getting into production.”

3. Risky jurisdictions and NIMBYism

“Although there is a push to develop projects in North America, in many parts of Northern America there is very much this NIMBY – not in my backyard – attitude,” Evans says.

“Piedmont has run up against that in North Carolina, and Lithium Americas Corp has that problem as well at their Thacker Pass project in Nevada.

“And then good jurisdictions always help. If you are in the middle of Africa, as an example, there is inherently more risk.”

4. Grade and metallurgy

At Cancet, the most advanced of our projects, one of the drill holes right from surface hit 17m at 3.7% lithium oxide,” Evans says.

“Really high grade, and it is coarse grained.

“It very much reminds me of the Bald Hill project that Tawana developed, although we don’t appear to have the huge strip ratios that they had.

“Because it is coarse grained, we have done some metallurgical testing and it is very amenable to dense media separation.

“Given it is on the surface, high grade, and coarse grained we could potentially bring it into operation with relatively low capex and relatively quickly.”

5. Will it have a low greenhouse gas footprint?

“From 2025, Europe requires all batteries to be labelled with their carbon footprint,” Evans says.

“The carbon footprint of battery production, all the way back to raw materials, is going to be very important.