Second drawdown from MinRes and appointment of lead engineer

This announcement confirms the progress we have made so far with our partner MinRes. The ~A$0.8M second drawdown from the convertible note follows the first drawdown of ~A$0.9M in October 2023.

The LieNA lithium chemicals technology is effectively free-carried by MinRes until closure of the piloting and engineering study for the demonstration plant. The appointment of Carnac to deliver the engineering study allows the second item to advance in parallel to the piloting.

The engineering study facilitates the development of the demonstration plant which will follow the formation of a JV between Lithium Australia and MinRes.