From the Chairman's and MD's addresses in the Annual Report.The...

From the Chairman's and MD's addresses in the Annual Report.

The successful laboratory testing of the ion exchange direct processing method has reinforced the merits of building a pilot
plant, supported by a Pre-Feasibility Study (PFS). I thank my fellow director, Dr Nick Lindsay, for his detailed efforts in
ensuring a quality PFS and consistent progress on the pilot plant, together with Lilac Solutions and the engineering firm,
Hatch.

The next key milestones will be the successful production of samples from the pilot plant delivered for qualification with down-stream supply chain participants, supported by the completed PFS. This will help confirm the efficiency of the direct extraction process and the quality of lithium products.
By producing samples for a number of cathode and battery makers, it is Lake’s strategy to develop these relationships into
development funding and partnership at its Kachi project, together with off-take agreements. This process has been
successfully demonstrated in other projects in Argentina with different owners.

So, everyone is playing a vital part and we are nearing completion of THE two vital requirements to proceed further.
Staus quo at least until the finalization of the development funding stage.