Short Term Trading Week Staring - 3 July, page-144

STTCOMP TAW, FA Long
SP: 19c
MC: $84m
Issued shares: 442m
Cash: ~A$17m (Canaccord report, 19/05/17)

Current Project in focus: Bald Hill Lithium and Tantalum Mine, WA.
JV with Alliance Minerals Limited (40F, SGX listed), earning 50%.
Already earning 50% on Lithum rights.
Target to complete earn in on 50% of Project (all minerals and infrastructure) by March 2018 (Capex spend required A$12.5m, covered by cash).

Low Capex/Opex, existing infrastructure, retrofitting a 1.2mtpa DMS circuit, stage 1. Fines circuit, stage 2. Significant tantalum
by-product. High Project IRR (payback < 1yr).

Maiden JORC Resource 12.8Mt at 1.18% Li2O and 158ppm Ta2O5 at a 0.5% Li2O cut-off (high grade). Two years solid drilling ahead with 5 rigs onsite. End of year resource target 30Mt-50Mt at 0.9%-1.4% Li2O and/or 300ppm T2O5 (from initially small target area compared to overall land  holdings).

ref: https://hotcopper.com.au/threads/ann-significant-increase-in-lithium-pegmatite-at-bald-hill.3447276/page-3? post_id=24901131#.WVsV4xWGOUk

Signed offtake agreement with a subsidiary of Burwill Holdings (A$25m Prepayment, 5 years + extension by mutual agreement, first two years fixed price US$880/t for 6% Li2O (+/- US$/15t on grade variation of 0.1%, min 5.5%). Targeting first shipment of lithium concentrate in 1Q 2018.

All regulatory licenses and approvals in place (DMP mining proposal, Water license, DER work approvals). Li plant construction
currently awaiting TAW/AMAL boards approval.

SP catalysts:
- DFS announcement expected this week to confirm economics of Project
- Tantalum offtake agreement (any time now), with aim to start Ta production August 2017 (according to AMAL CEO)
- Resource upgrade expected end of July and end of the year (see above map)
- Li Plant commissioning 1Q 2018.
- First shipment of lithium concentrate in 1Q 2018

Other projects:
- Cowan Lithium Project (100%)
- Yallari Lithium Project (option to purcahse 100%)
- Uis Lithium Project (option to purchase 100%)
- Mofe Creek Iron Ore Project (100%)