Hi guys,

I did some number puntching to see how our 3Q project is valued.  If we do believe it is the best project in the world.  Here are the 3 projects just purchased by Majors.

  M (M Tonne) I (M Tonne) M+I (M Tonne) Inf. (M Tonne) TOTAL (M Tonne) M+I Grade (mg/L) Cut-off G (mg/L) Mg/Li SO4/Li P. Price (M$) P. Price-M+I ($/Tonne) P. Price-Total ($/Tonne)
Rincon 4.9 0.9 5.8 5.97 11.77 367 200 9.6 24.5 825 142.2 70.1
NLC 1.9 3.47 5.37 2.26 7.63 637 400 3.3 0.5 750 139.7 98.3
ML 1.28 0.85 2.13 0.88 3.01 427 300 6.3 18.2 400 187.8 132.9

Among the 3 projects, 3Q is the highest grade, lowest impurity project, the Rincon project is the lowest quality.

Based on Measured-M & Indicated-I Resources, 3Q is sold at the LOWEST price at $140/tonne.

In terms LAC purchasing of ML, it paid the highest price, based on both M+I and Total Resource, maybe that's why CATL dropped out of the race.

SAD to see 3Q go!

Happy Holiday!

tiger