Recent interview with GC, page-9

KR

I want to correct my error and possibly answer your question.

Firstly my error was regarding exploration tenements v mining lease area. I am sure you noted this.

As you know AMN does not yet have a ML and I agree they were clever in deferring their application.

AMN has 4335km2 of exploration tenements. From the map it would appear that approx 20% is in the NT.

If we assume their ML will cover the surface area of the lake bed within WA then 80% of 4335km2 is 346800 Hectares.

Note that this is a big assumption. The current RWD ML is over 3469H yet the evaporation ponds as per the PFS are 4772H. 

The initial saving in ML fees is $18.70 per year.

The AMN/RWD WA royalty difference is A$24.27/T.

The reduction in ML fees will not offset the wishful thinking 73 cents/T royalty rate. 

Cheers