Ann: AGM Presentation, page-11

Kallium's PFS was done to +/-25% accuracy so I'm surprised they can publish a Probable Reserve from that ? A Reserve should at least be inside 20% accuracy especially for brine deposits which are unproven in Australia. In some well known bulk commodities like Iron Ore you could probably use the term Reserve at PFS level within exisiting operations. Based on Kalliums standards though Reward and Agrimin could also publish a reserve if they wanted to as their 0-6m Resource is classified as Indicated and their PFS inside 25% accuracy...basically it comes down to the confidence of the Competant Person putting the lable of Reserve on the available resource. So really at Kalliums +/- 25% accuracy on Opex and Capex and on a potential operation that has never been proven in this country (for comparison) do you think the term Reserve is warranted ? no way.