Kathleen Valley Project Discussion, page-42

I am sorry, but it just does not make a sense to me.

If battery and cathode manufacturers wants the Lithium Hydroxide fresh, where do you have them in Australia to justify PLS building plant here.

If LiOH needs to be shipped in special containers to avoid losing its specifics, is makes more sense to me to produce it in countries where battery and cathode manufactures are operating, reducing shipping risk.

Why is Tianqi and Albemarle developing refinery in Australia?
They own the biggest hard rock mine in the world with plans for 25% expansion of Talison mine and both can financially afford such project.

KDR would never be thinking of upstream without giving 50% to SQM.

We have now PLS, GXY and A40 getting soon income from upstream production and none is looking to do it alone in Australia.

How on earth would you expect our new miners like A40, PLS or GXY with 4/5 years of LOM left to afford building refinery only few years after they started first drilling for lithium and went thru all expenses associated with mine development.

At least A40 and PLS did show example to other miners by demanding profits from upstream production and not been used for selling cheaply our minerals.