LTR - cost per Tonne to produce, page-42

Hi Scarpa

Needless to say you are correct of course about how other deleterious elements are not just about Fe, but the point of focusing on Fe is that it is easy for the illiterate here to make a comparison with LTR peers who have strenuously gesticulated about their impurities as they know it matters for downstream processors and battery makers.

It’s also wise to just focus on Fe as the LTR knows ferrous impurities are there they are just not disclosing unlike peers in Pilgangoora for example have done.

Even Pilgangoora at least the larger entity of two had methodologies for ascertaining Fe levels that have proven bogus in real life.

It is just too hard to measure with the mineralogy endowed and only way is post minegate revenue wise.

It’s why A49 failed and Mr pegmatite said he had the best SC6 product. I think he knew he was in deep trouble with capex...of course shareholders are so believing and loyal and are last know to.

Same with Altura....good people believed in management but resource quality when yu look back retrospectively was a huge experiment and so with its neighbour.

A company can’t claim its tier one and not reveal full assays...talk in vague terms such as “ferrous material” or “ferrous impurities”