October 11, 2012

This table for more perspective with cut-off grade:

Table 1: Measured and Indicated Mineral Resources

  Measured (M) Indicated (I) Total (M+I)
Cut--off (%) Tonnes Li2O % Tonnes Li2O % Tonnes Li2O %
0.6 8,028,000 1.11 33,527,000 1.09 41,556,000 1.09
0.8 6,914,000 1.18 26,325,000 1.19 33,239,000 1.19

41,556,000/7,387,000 = 5.63 times our M+I

Grades 1.09-.97 = .12

242.29/9.52 = 25.45 times our market cap