General Discussion Topics, page-23073

Another reason that they are drilling is the fact that with NAL in place and Nemaska also committed there will be avenues to send spod to that are not China. This changes the economics of many of the smaller properties. You no longer have to have a huge resource to be economically feasible. In the case where these mines are in very close proximity to NAL they may forgo huge CAPEX and simply run a quarry style operation. All of this bodes well for Sayona / Piedmont to be the processor of choice and to build out extra capacity as these smaller mines come online.