Ann: Pre-Feasibility Study Update, page-28

below is an example of 'theoreticalism'

AMN = grade of 8.25 vs RWD grade of 11.35

AMN scoping study said: "steady-state brine extraction of 66.5 gigalitres (“GL”) per year over a 20 year life... for a production target of 370,000 tonnes per annum (“tpa”) of SOP"

RWD scoping study said: "60-70 million cubic metres of brine delivered to the system each year...the production of 400,000 tonnes per annum of SOP"

now both desk-top estimates are similar yet the RWD grade is 38% higher

the most recent AMN presentation says: "370,000 tonnes per annum target... trench extraction of 78.5Mtpa of groundwater "

now using the scoping study assumptions with a 67% recovery:

AMN = 66.5GL x 8.25 grade x 67% recovery = 367,579 tonnes

RWD (low case) = 60.0GL x 11.35 grade x 67% recovery = 456,270 tonnes

RWD (high case) = 70.0GL x 11.35 grade x 67% recovery = 532,315 tonnes

i think the significant differences here show how theoretical previous assumptions are

the impression is either AMN have over-estimated or RWD have under-estimated

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