Takeaways from Matt Boyes interview Sept 21st

Mt Ida:

·“Apart from Lion Town, we’ll be the next lithium producer in WA

·No cap raise required for any of the exploration

·Options conversions bring in 300-400k a month

·“A lot going on with potential offtake partners”

·Planning to have an offtake partner come onboard and provide some debt finance (no dilution to shareholders)

·“Resource estimate will be out in very early October”

·“Probably going to have one more assay announcement out before the resource release”, “Most importantly will be showing that Sparrow has potential to add to that resource”

·“RDT has 300% upside potential in the near future”

·Grades and widths the best he’s seen in the junior space on the ASX

·“Will be the most material event for the company since inception”

·“Will be doing a mining study in early November”

·Mt Ida remains the core focus

·All infill resource drilling is complete

·Mt Ida is one of two granted mining leases in WA

·No heritage issues, no native title claims, environmental studies are done

·Lead time to getting mining permit is very limited

·Two and half years away from mining Mt Ida

·We’ll be the first to get there in the next two and a half years

·“Being on a granted mining lease in WA is crucial”

·“Between the board, we’ve built 7 mines”

Yinnetharra:

·“When acquiring an asset, you have to look at something that has, 10, 20x upside”

·Accumulating at a length known so far as 7km

·Only 34 drill holes ever carried out on the tenement

·Mineralisation from 0m down to 100m (limited depths been drilled so far)

·Only RC drilling carried out previously (no diamond core)

·Only 4 small areas were drilled, tenement is about 520 square kms

·The right chemistry, massive size potential

·Size and scale couldn’t be passed up, potentially a very large resource

·Will be even easier than Mt Ida to drill out and prove the resource, as the pegmatite is at surface

·Will be on the ground drilling in November

·Planning to get 5000m drilled by Christmas

·They have heritage clearance, no other access issues

·350km from Carnarvon, easy road access