Money of Mine

Joe “Mr Lithium” Lowry is back on Money of Mine to discuss all things lithium, excluding the hard rock! We figured we’ve spoken plenty about the spodumene projects that dominate the West Australian landscape, and it was about time we got up the curve on brines, DLE & sedimentary projects. Part 1 of our chat goes into what makes up a good brine project, what the stand outs are, what DLE is all about, what the best projects look like, Joe’s thoughts on the potential impact of DLE, opinions on the “lithium triangle” countries & plenty more. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners:  DSI Underground - Supplier of Ground Support Products to the Mining and Tunnelling industries Terra Capital – Specialist investment manager in the natural resources sector McMahon Mining Title Services (MMTS) – Australia-wide tenement service experts Futureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commodities Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more KCA Site Services – Underground mining machine hire for IT’s, normet’s, trucks and more JP Search – Recruitment specialists for the financial world Brooks Airways – Perth’s leading charter flight operators K-Drill – Safe, reliable, and productive surface RC drilling Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Chapters:(0:00:00) Introduction(0:00:08) Preview to Mr Lithium(0:01:18) Recap of the Delta Lithium AGM(0:03:48) Flying with Brooks to South America(0:06:02) Jobs on offer at JP Search(0:08:20) Joe Lowry back on Money of Mine!(0:12:20) The 101 on lithium brines(0:17:06) Is water going to be an issue for DLE?(0:26:45) What is the waste product for a brine project?(0:31:15) What are the most misunderstood aspects of brine projects?(0:34:08) is SQM slowing down or ramping up?(0:36:55) Why is the Atacama special for brines(0:43:58) Where is China going to source its product?(0:47:38) What makes a good brine development project(0:51:58) Summing up Direct Lithium Extraction (DLE)(0:56:00) Who are the DLE tech players(0:57:47) Prelude to part 2!

Part 2 of our chat with the Koala! In this part we delved into what makes an attractive Tier 1 & why majors sell them, whether a metal price bifurcation (on production standards) is realistic, the evolution of the mining buy-side, shareholder activism, (misaligned) incentives as well as our favourite, a punchy under-rated vs over-rated section. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: DSI Underground - Supplier of Ground Support Products to the Mining and Tunnelling industries Terra Capital – Specialist investment manager in the natural resources sector McMahon Mining Title Services (MMTS) – Australia-wide tenement service experts Futureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commodities Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more KCA Site Services – Underground mining machine hire for IT’s, normet’s, trucks and more JP Search – Recruitment specialists for the financial world Brooks Airways – Perth’s leading charter flight operators K-Drill – Safe, reliable, and productive surface RC drilling Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram TIMESTAMPS (0:00:00) Introduction(0:03:13) How real is DLE?(0:08:37) Metal Price Bifurcation(0:16:42) Shareholder Activism(0:22:23) Whitehaven alignment(0:33:02) BHP growth(0:45:42) Is the Copper boom going to happen?(0:47:01) The Koala on the Banking hampster wheel(1:03:41) Over Rated - Under Rated

The Mintwit enigma “Koala” (@YellowLabLife) came by for a chat on all things natural resources investing. In this part 1, we dive into what aspects of natural resources investing really catches the Koala’s eye, how the M&A landscape has evolved in mining, what the pros & cons of being active on twitter are (from an investment standpoint), how the lithium market is developing and why the consensus view on iron ore is wrong. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: DSI Underground - Supplier of Ground Support Products to the Mining and Tunnelling industries Terra Capital – Specialist investment manager in the natural resources sector McMahon Mining Title Services (MMTS) – Australia-wide tenement service experts Futureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commodities Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more KCA Site Services – Underground mining machine hire for IT’s, normet’s, trucks and more JP Search – Recruitment specialists for the financial world Brooks Airways – Perth’s leading charter flight operators K-Drill – Safe, reliable, and productive surface RC drilling Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram TIMESTAMPS 0:00:00 Preview0:02:39 Gina needs help breaking Iron Ore0:07:53 Why Trav and the Koala like Twitter0:24:54 M&A at the big end of town0:37:44 Why was Freeport sold?0:43:05 Reconciling views on trough EBIDTA0:46:29 WA Lithium

We start the week chatting about the news that Perseus (PRU) has picked up 19.9% of Tanzanian gold developer OreCorp (ORR), tainting SilverCorp’s (SVM.t) plans for a smooth takeover. On the theme of African gold, we touch on Tietto Minerals (TIE) target statement, including an Independent Expert Report highlighting that Zhaojin’s bid is not fair and not reasonable. Wrapping up on African gold we touch on Tuarco’s deal with Endevour before rounding out the show on the news that troubled Aussie miner Aeris (AIS) is raising $30m. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: DSI Underground - Supplier of Ground Support Products to the Mining and Tunnelling industriesTerra Capital – Specialist investment manager in the natural resources sectorMcMahon Mining Title Services (MMTS) – Australia-wide tenement service expertsFutureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commoditiesAnytime Exploration Services – Exploration workers, equipment, core cutting/storage + much moreKCA Site Services – Underground mining machine hire for IT’s, normet’s, trucks and moreJP Search – Recruitment specialists for the financial worldBrooks Airways – Perth’s leading charter flight operatorsK-Drill – Safe, reliable, and productive surface RC drillingJoin our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group.Subscribe to our weekly newsletter HOOTEROO HERALDFollow Money of Mine on YouTubeFollow Money of Mine on TwitterFollow Money of Mine on LinkedInFollow Money of Mine on Instagram  Chapters:(00:00) Preview(00:30) Introduction(01:05) How Junior Miners can get more bang for their buck(05:17) Perseus go substantial on OreCorp, getting in SilverCorps way(11:02) IER deems Zhaojin's bid for Tietto not fair & not reasonable(18:31) Turaco do a deal with Endeavour(20:05) Aeris rattling the tin for 30 bucks

Money of Mine made an appearance at the much-anticipated AVZ AGM, which was set up for fire works with more directors up for elections than we’ve ever seen before. We shared our thoughts on the numerous mining companies which have seen their exec remuneration packages voted against by shareholders, then pull apart the latest updates from the EU’s Critical Raw Materials Act + how it impacts an ASX rare earth hopeful. MinRes (MIN) weren’t going to share further info on the acquisition of Bald Hill so we had to do it for them, and lastly we briefly touch on the halt of copper mining at the enormous Cobre Panama. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: DSI Underground - Supplier of Ground Support Products to the Mining and Tunnelling industries Terra Capital – Specialist investment manager in the natural resources sector McMahon Mining Title Services (MMTS) – Australia-wide tenement service experts Futureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commodities Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more KCA Site Services – Underground mining machine hire for IT’s, normet’s, trucks and more JP Search – Recruitment specialists for the financial world Brooks Airways – Perth’s leading charter flight operators K-Drill – Safe, reliable, and productive surface RC drilling Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram TIMESTAMPS (0:00:00) Introduction (0:01:57) Turning shit ground into good enough ground (0:06:57) AVZ shareholder's day in the sun (0:23:23) Which ASX companies don't like management's pay? (0:28:03) Does the Raw Materials Act impact ASX companies? (0:31:44) We share the Bald Hill acquisition details (as MinRes won't) (0:38:59) What's the latest from Cobre Panama?

We’ve got a wild one for the Money Miners today, starting with highlights from some AGMs plus an interesting phenomenon for all to look out for. Next up we cracked into Strandline (STA) who finally gave the market some more news to go off at their troubled Coburn operation. OreCorp (ORR) was next on our radar after we highlighted a potential cash kicker yesterday, and just one day later look at what Silver Corp have done! Hastings got a mention by trying to sneak through a financing facility late yesterday which we discussed before Matty went down a rabbit hole, tying TG6, Robert Friedland & some Perth media characters all into the same story. To tie things off today we spoke about Metro Mining’s (MMI) record year to date. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: DSI Underground - Supplier of Ground Support Products to the Mining and Tunnelling industries Terra Capital – Specialist investment manager in the natural resources sector McMahon Mining Title Services (MMTS) – Australia-wide tenement service experts Futureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commodities Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more KCA Site Services – Underground mining machine hire for IT’s, normet’s, trucks and more JP Search – Recruitment specialists for the financial world Brooks Airways – Perth’s leading charter flight operators K-Drill – Safe, reliable, and productive surface RC drilling Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram TIMESTAMPS 0:00:00 Introduction 0:00:51 Fasten your seatbelts 0:04:34 What's going on this AGM season 0:07:30 An AGM trick company try to pull 0:09:19 Strandline finally share details on Coburn's struggles 0:12:43 OreCorp's big shareholders get their kicker 0:14:52 What to make of Hastings financing <

We start off today with a bit of M&A unhappiness as the once happy takeover of OreCorp (ORR) by Canada’s SilverCorp seems to have soured. Next up we had a quick word on Patriot Battery Metals (PMT) drilling from CV9. AIC Mines (A1M) reserve upgrade for Lens 6 at the Eloise copper mine caught our eye as the company looks to expand the plant and lift production over the coming years. Copper behemoth Codelco got a shout out as they elected to spend more at Chuquicamata in the face of declining grades, deeper mines and rising costs. Lastly, WestGold (WGX) topped up their liquidity with a $100m RCF which naturally got the rumour mill going again. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: DSI Underground - Supplier of Ground Support Products to the Mining and Tunnelling industries Terra Capital – Specialist investment manager in the natural resources sector McMahon Mining Title Services (MMTS) – Australia-wide tenement service experts Futureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commodities Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more KCA Site Services – Underground mining machine hire for IT’s, normet’s, trucks and more JP Search – Recruitment specialists for the financial world Brooks Airways – Perth’s leading charter flight operators K-Drill – Safe, reliable, and productive surface RC drilling Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram TIMESTAMPS (0:00:00) Introduction (0:00:48) An in-love Underground Miner (0:04:43) Could we see a shareholder revolt at ORR? (0:12:31) Patriot Battery Metals hitting new pegmatites (0:14:08) Could AIC Mines new reserves boost cashflow? (0:26:50) What Codelco has to spend just to maintain production (0:31:10) Westgold top up cash facilities… what for?

Matty led the way today diving into the key risks that Liontown (LTR) will face over the coming quarters as they construct & ramp up the big Kathleen Valley Lithium project before Trav & JD dissected the sale of Khoemacau to Chinese miner MMG. Northern Minerals (NTU) caught our eye with a truly unique 249D process as well as intriguing deals at Charger Metals (CHR), announcing a farm-in with Rio Tinto as later a capital raise. Lastly, we called out some funky announcements, honing in on a headline that caught our eye from Pure Resources (PR1). All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: DSI Underground - Supplier of Ground Support Products to the Mining and Tunnelling industries Terra Capital – Specialist investment manager in the natural resources sector McMahon Mining Title Services (MMTS) – Australia-wide tenement service experts Futureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commodities Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more KCA Site Services – Underground mining machine hire for IT’s, normet’s, trucks and more JP Search – Recruitment specialists for the financial world Brooks Airways – Perth’s leading charter flight operators K-Drill – Safe, reliable, and productive surface RC drilling Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram TIMESTAMPS (0:00:00)Introduction(0:01:30)Scouring Australia for Mining Land(0:04:07)Big Federal Government news(0:06:10)What could go wrong at Liontown?(0:23:32)Khoemacau gets bought for almost US$2B!(0:36:33)A 249D with a twist at Northern Minerals (0:39:58)What to make of Charger Metals Rio deal & raising

We start off the week by dissecting the capital raisings of Spartan (SPR) and Peninsula (PEN), focusing on some vague & excessive “use of funds” figures. Next up we look at Glencore making headway on some lithium deals, with Canadian listed Tantalex and ASX play Galan (GLN) on the other side of the table. We had previous guest Todd Malan drop by to share some punchy thoughts the rumoured Indonesia-USA free trade agreement before rounding out with a snippet from MinRes’ (MIN) action packed AGM late last week. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: DSI Underground - Supplier of Ground Support Products to the Mining and Tunnelling industries Terra Capital – Specialist investment manager in the natural resources sector McMahon Mining Title Services (MMTS) – Australia-wide tenement service experts Futureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commodities Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more KCA Site Services – Underground mining machine hire for ITs, normets, trucks and more JP Search – Recruitment specialists for the financial world Brooks Airways – Perth’s leading charter flight operators K-Drill – Safe, reliable, and productive surface RC drilling Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram TIMESTAMPS(0:00:00)Introduction(0:01:58)Big News out of the Exploration Industry(0:05:04)Spartan Raise(0:11:43)Peninsula Raise(0:15:23)Glencore Lithium offtake(0:20:36)Todd Malan on Indonesia FTA with U.S.<

On part 2 of our fascinating chat with natural resource fund manager Sam Berridge we pulled apart a number of his stock picks, highlighting the potential as well as the pitfalls to watch out for. We discussed whether uranium equities or the physical trusts are a better way to play the nuclear thesis as well as a detailed version of under-rated and over-rated, covering commodities, stocks, ideas and much more. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: DSI Underground – Supplier of Ground Support Products to the Mining and Tunnelling industries Terra Capital – Specialist investment manager in the natural resources sector McMahon Mining Title Services (MMTS) – Australia-wide tenement service experts Futureproof Consulting – Specialist mining-industry sustainability consultants providing ESG solutions for miners of all sizes, stages and commodities Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more KCA Site Services – Underground mining machine hire for IT’s, normet’s, trucks and more JP Search – Recruitment specialists for the financial world Brooks Airways – Perth’s leading charter flight operators K-Drill – Safe, reliable, and productive surface RC drilling Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram TIMESTAMPS(0:00:00) Introduction(0:01:30) Fun Underground Facts with Matty(0:10:40) What’s Chris & Gina’s strategy(0:20:39) SPUT vs Paladin(0:27:37) Metals Acquisition Corp re-rate(0:32:46) De Grey’s DFS thoughts(0:37:08) Explain Ora Banda(0:45:01) Genesis’ journey to 300kozpa(0:51:01) Will Silver Lake merge with Red 5?(0:54:58) One sentence answer round(0:55:53) Under-rated vs Over-rated