Nice and obvious down ramp going on here in my opinion. On even...

Nice and obvious down ramp going on here in my opinion.

On even the most conservative estimates you get an NPV of over 110m. It is a really easy mining process and with the Lithium Carbonate Plant next door a very good acquisition by management. These are the same guys that founded Orecobre and are directors of Altium as well. Clearly well respected and very experienced.

There were many reasons that Glen Eagles sold this project.

1. They are a gold mining company and Li not the focus and further fund were required for their gold project.

2. At the time of the deal, the Lithium Carbonate Plant was not dormant so off take and strategic value were not as clear. With the new Chinese owners this is a game changer. There is no doubt the price would be much higher now and I even heard some shareholders in Glen Eagles were calling for a renig!!

If investors take the time to have a decent look at this it all makes perfect sense with good economics to support.

Interestingly, if you mark to market against other listed companies it looks very cheap and moves it up the value curve and clearly out of the explorer with a high quality deposit with 8o% JORC in the indicated and measured.