We finished the Quarter with: • A$16m cash available to spend on...

We finished the Quarter with:
• A$16m cash available to spend on Arcadia and a further US$10m funding commitment;
• Continued interest in securing the balance of the Stage 1 offtake volume along with finance
proposals for the Arcadia Mine;
• Additional interest in Stage 2 offtake supplies;
• First mining contracts signed;
• The tailings storage facility cleared, starter pit cleared, working accommodation facilities under
construction and the platform for some 5,000m2 of covered facilities being prepared; and
• A strong trading cashflow of some A$548,000 (YTD A$1.496m) from farm sales and currency
trading. Gross profit from these activities for the quarter was A$580,000

Summary of Activities Planned for the 30 September 2018 Quarter Arcadia High Grade Lithium Project
• Mine development continues in earnest;
o ERP (Pronto) implementation ‘go-live’ planned for September after 5 months of
configuration offline.
o Issue engineering drawings for fabrication and construction,
o Baseline the schedule and budget.
o Appoint primary construction contractor, commence earthworks and civil works. o Select primary fabricators and suppliers to facilitate award process;
▪ Structural,
▪ Mechanical,
▪ Piping,
▪ Electrical and Instrumentation.
o Complete hiring Human Resources Manager, Training Specialist
o Complete hiring the Project execution team, primarily the construction management
team.
o Complete hiring the Operations team, primarily the Process Manager, Engineering
Manager.
o Finalise the preparation of Operational procedures and process, SOP’s, HAZOPS etc to
determine the requisite training requirements for operators and trade personnel.
o FinalisetheOperationstrainingprogram,inanticipationofthehiringprocessforartisans
and trade personnel.
o Conclude and implement the Corporate Social Responsibility (CSR) plan.
• Continue talking to potential Lithium Carbonate Facility partners Other Acquisitions