Good News & Bad News, page-31993

Contacted Calix in regards to the Midstream product lithium content.

Reply

Thanks for reaching out. In relation to your question on the reported % of lithium in the targeted Lithium Phosphate product the confusion arises from the reference used in the latest ASX release. In this case the lithium metal content of the lithium phosphate product is quoted as 18% which equates roughly to a 98% pure lithium phosphate salt which is the stated target. The lithia content Li2O of the same material is approximately 30% which was the basis of earlier communication. Spodumene concentrate traditionally has it’s lithia Li2O content quoted with a benchmark material being 6.0% although most spodumene concentrate is sold with concentrations between 5.3 and 6.0% lithia. In essence the key message is that the proposed product will have 5-6 times the lithium concentration of the spodumene feed to the demonstration plant.

I hope this clarifies the communication.

Should you have any further questions please don’t hesitate to reach out.

Regards

Andrew Okely

GM Commercial