NEW OPEN PIT MINING AND PROCESSING ▪ mine planning commenced in Q3 2023 to develop conventional open pit hard rock mining of the Noumas I lithium bearing pegmatite ▪ the Noumas I pegmatite is just one of multiple pegmatites on the Blesberg license area that are proposed to be mined and developed ▪ open pit mine design study, and an initial mining works program completed in Q4 2023 ▪ mining of the intermediate and wall zones in the pegmatite will commence in Q4 2024 ▪ these zones make up over 80% of the pegmatite and contain an estimated +1Mt of spodumene sufficient for an initial +10 year mine life ▪ initial mining rates of 20,000tpm of material delivered to the processing plant ▪ testwork in Germany and South Africa has confirmed yields of 13-15% are achieved through the TOMRA and RADOS sensor based XRF ore sorters ▪ production from the open pit of an initial 3,000tpm of a high grade (+6% Li 2O) +20mm saleable high-grade lithium spodumene product ▪ total monthly production of an initial 5,000tpm with the additional 2,000tpm of saleable product recovered from re-processing of the historic stockpiles 38
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