Update on the Pre-Feasibility Study at the Lake Hope Project

The Mine at Lake Hope:

A negotiation protocol for Land Access and Cultural Heritage agreements with the Ngadju peoples is under review.

Applications for a Mining Lease and associated Miscellaneous Lease will be lodged shortly.

Infill drilling to define a maiden Measured Resource and Proven Reserve completed with resource calculations and economic studies in progress.

Further flora fauna and heritage surveys are being planned for the mine haul road.

The Process Plant:

Kwinana selected as the location for a benchmark production of 10,000 tonnes per annum of HPA due to access to providers of the required input chemical reagents, buyers of the fertiliser and acid by-products and access to suitable land. Combined, these provide substantial strategic advantages for the project with savings on capex and opex.

The Low-Temperature Leach process selected as the most straightforward processing method to produce HPA at scale.

CPC Engineering selected to provide a design and engineering study for the full-scale plant that is underway.

Product development, offtake and marketing

Significant test work on HPA and fertiliser by-products completed with assays due in August. Quotes received and discussions in progress for designing and constructing a pilot plant to provide bulk samples to customers.

Experimental work has produced a hydrated alumina product that may have major applications in the catalyst and flame retardant industries.

Early-stage discussions are underway for potential synergies with existing alumina businesses in Europe and the USA.

A marketing and product development team is being assembled.