Quarterly Activities Report – Dec Qtr 2016

Highlights

   Lithium

  • Advancement in detailed design has led to the procurement of a significant number of mechanical items for the process plant
  • Strategic alliance with J&R Optimum covering funding, board representation, advisory support and anti-dilution rights
  • Revised Ore Reserve estimate of 30.1 million tonnes @1.04% Li2O (an increase of 9.8 million tonnes over the previous estimate)
  • Revised Indicated Mineral Resource estimate of 40.3 million tonnes @1.00% Li2O  All Resource extension drilling complete on mining leases  Mine site accommodation camp purchased from Roy Hill Infrastructure Pty Ltd

   Coal

  • Mining operations suspended currently due to legal dispute between the mine and the mining contractors

   Corporate

  • Share Placement with J&R Optimum
  • Agreement with Kairos Minerals granting exclusive right to explore for lithium on Kairos’ Wodgina East tenements
  • Iron ore royalty payment to be received from Atlas Iron

Further details

Posted in 2017 ASX