Notes - General meeting

A few points from todays General meeting:

SPP - already covered elsewhere but SPP to be scaled back, priority given to Long term holders

Mt Fransisco – made special mention of it a number of times, said to watch out for upcoming announcements, said One of the 3 big pegmatite swarms in the region the other 2 being Pilgangoora and Wodgina

Long lead items –HPGR, ball mill, filter press etc are already on site or in transit

Traditional owners – working with the local community to provide jobs etc, they are close knit and very supportive so no issues like FMG currently have

Water – plenty of good quality water

Technically de-risked – they have spent extra time and money running and fine tuning the pilot plant which previous companies had not, effectively suggesting that the mine plant should have minimal optimisation issues once setup.

Downstream processing - They are still looking into downstream processing options (Carbonate/Hydroxide plant) but it has to be on Pilbara’s terms, ie outside of China

DSO - haven’t ruled out DSO, still talking to a number of parties but didn’t sound like it was a priority

Tantalum - demand from tantalum increasing due to new technologies, up to $75/lb

Development updates – showed drone footage of site, intend to put regular photo/video update footage on the website

DFS 5mtpa – engineering under way, should take about 9 months to finish the DFS