gxy management, page-2

The cost of supply of spodumene for the Jiangsu plant is already
accounted for until late 2013 because there's about 60K tons in China with an additional 15K tons+ at Mt Catlin.

Once in full production Jiangsu needs 135K tons spodumene p/a.(nameplate)

Revenue from current sales has only to account for the Jiangsu costs
and not the for purchases from Talison which, IMO, will commence towards the end of the year.

The drop of 9c/share since the announcement is mostly due to shorters and those who do not undersatnd the fundamentals of GXY. Mr Tan has not helped by not disclosing the commencement of Talison feed and further details about
sales contracts, prices and forward costs.

The Mar qtr report should help to clarify things further.

Cheers
moorookamick