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Reporting assumptions

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Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Formentera/Cilon

Jujuy, Argentina · ExploringUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes (Mt)	Grade (mg/L Li)	Contained (Mt LCE)	As at
Measured	—	—	—	—
Indicated	—	393 mg/L Li	0.01 Mt LCE	14 July 2025
Inferred	—	292 mg/L Li	0.54 Mt LCE	14 July 2025
Total Resources	—	294 mg/L Li	0.55 Mt LCE	14 July 2025
Proved	—	—	—	—
Probable	—	—	—	—
Total Reserves	—	—	—	—

Cut-off grade

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Price assumption

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JORC code year

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Peer benchmark — exploring Li projects (22 with resources)Resource size P30Resource grade P61View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: Mineral Resource Estimate Interim Progress Report · 14 July 2025
Reporting code: unknown
Convention: unknown
Currency assumption: A$

Current R&R

Resources

Category	Tonnes / Vol	Li		As at	Source	Provenance
Category	Tonnes / Vol	Grade (mg/L Li)	Contained (Mt LCE)	As at	Source	Provenance
Indicated	—	393 mg/L Li	0.01 Mt LCE	14 July 2025	5Unverified Evidence record Formentera/Cilon Indicated · Li · as at 2025-07-14 Reported figure Area Whole project Basis 100% Ore tonnes (t) — Grade 393.0000 Contained (t LCE) 14800.0000 Classification Resource Source trail Mineral Resource Estimate Interim Progress Report 5 Published 2026-08-03 Verification Approved; not independently verified · Model extracted QA WARN: tonnes equals the reported contained figure exactly — likely the contained value miscopied into the tonnes column (prose announcements printing contained-only figures; live class: BGD tranche 15). Verify the document prints a tonnage. QA BLOCK: LCE double conversion — the source column label 'LCE' prints a carbonate-equivalent (LCE) figure, but the row is stored on the Li_mg_L basis, so the LCE-canonical pipeline converts it to LCE AGAIN (x5.322785). Store the document's native elemental/oxide column, or set grade_basis to the carbonate basis (t71: 15 rows across three issuers). Human review required. \| QA fix+approve (t100v, q5.txt): contained_metal=14800 tonnes_t=NULL. LCE double conversion confirmed against the print, and the brief's conditional "no estimate of record" REJECT does NOT apply. p.5 prints a completed estimate: "The LCE MRE of 551,400t LCE @ 294mg/L is comprised of 14,800t LCE @ 393mg/L Indicated MRE and 536,600t LCE @ 292mg/L Inferred MRE", cross-referenced to the MRE "lodged on 14 July 2025 as 'Lithium Carbonate Mineral Resource increased by 319%'" with the standard no-material-change confirmation — a full three-category estimate of record, not progress commentary. The defect: the printed 14,800t is ALREADY carbonate-equivalent, and the pipeline applied x5.322785 again to reach 78,777.218. contained_metal = the printed 14,800t LCE. Do NOT re-base grade_basis: 393 mg/L is an elemental-Li brine assay, so Li_mg_L is correct for the grade and only the contained figure was mis-converted; the double conversion must be stopped at contained_metal, not by mislabelling the grade. tonnes_t nulled — the announcement prints no tonnage and no brine volume anywhere, so the stored 14,800 is the contained figure copied across (the TONNES-EQ-CONTAINED warn, confirmed). as_at 2025-07-14 correct. \| t100v Copies a pre-filled issue record so you can send it through your normal channel.

notes (4)

Source: Mineral Resource Estimate Interim Progress Report · published 03 Aug 2026

Ref: 5

Unknown code — Reporting code not yet captured for this row.

QA notes:

QA WARN: tonnes equals the reported contained figure exactly — likely the contained value miscopied into the tonnes column (prose announcements printing contained-only figures; live class: BGD tranche 15). Verify the document prints a tonnage. QA BLOCK: LCE double conversion — the source column label 'LCE' prints a carbonate-equivalent (LCE) figure, but the row is stored on the Li_mg_L basis, so the LCE-canonical pipeline converts it to LCE AGAIN (x5.322785). Store the document's native elemental/oxide column, or set grade_basis to the carbonate basis (t71: 15 rows across three issuers). Human review required.
QA fix+approve (t100v, q5.txt): contained_metal=14800 tonnes_t=NULL. LCE double conversion confirmed against the print, and the brief's conditional "no estimate of record" REJECT does NOT apply. p.5 prints a completed estimate: "The LCE MRE of 551,400t LCE @ 294mg/L is comprised of 14,800t LCE @ 393mg/L Indicated MRE and 536,600t LCE @ 292mg/L Inferred MRE", cross-referenced to the MRE "lodged on 14 July 2025 as 'Lithium Carbonate Mineral Resource increased by 319%'" with the standard no-material-change confirmation — a full three-category estimate of record, not progress commentary. The defect: the printed 14,800t is ALREADY carbonate-equivalent, and the pipeline applied x5.322785 again to reach 78,777.218. contained_metal = the printed 14,800t LCE. Do NOT re-base grade_basis: 393 mg/L is an elemental-Li brine assay, so Li_mg_L is correct for the grade and only the contained figure was mis-converted; the double conversion must be stopped at contained_metal, not by mislabelling the grade. tonnes_t nulled — the announcement prints no tonnage and no brine volume anywhere, so the stored 14,800 is the contained figure copied across (the TONNES-EQ-CONTAINED warn, confirmed). as_at 2025-07-14 correct.
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Inferred

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292 mg/L Li

0.54 Mt LCE

14 July 2025

5Unverified

notes (4)

Source: Mineral Resource Estimate Interim Progress Report · published 03 Aug 2026

Ref: 5

Unknown code — Reporting code not yet captured for this row.

QA notes:

QA WARN: tonnes equals the reported contained figure exactly — likely the contained value miscopied into the tonnes column (prose announcements printing contained-only figures; live class: BGD tranche 15). Verify the document prints a tonnage. QA BLOCK: LCE double conversion — the source column label 'LCE' prints a carbonate-equivalent (LCE) figure, but the row is stored on the Li_mg_L basis, so the LCE-canonical pipeline converts it to LCE AGAIN (x5.322785). Store the document's native elemental/oxide column, or set grade_basis to the carbonate basis (t71: 15 rows across three issuers). Human review required.
QA fix+approve (t100v, q5.txt): contained_metal=536600 tonnes_t=NULL. Same class: p.5 "536,600t LCE @ 292mg/L Inferred MRE" is already LCE, so contained_metal is the printed 536,600t, not 536,600 x 5.322785 = 2,856,206. tonnes_t nulled — no tonnage or brine volume is printed. grade_basis stays Li_mg_L for the reason given on 35740500. Estimate of record is present, so no reject.
t100v

Total Resources

—

294 mg/L Li

0.55 Mt LCE

14 July 2025

5Unverified

notes (4)

Source: Mineral Resource Estimate Interim Progress Report · published 03 Aug 2026

Ref: 5

Unknown code — Reporting code not yet captured for this row.

QA notes:

QA WARN: tonnes equals the reported contained figure exactly — likely the contained value miscopied into the tonnes column (prose announcements printing contained-only figures; live class: BGD tranche 15). Verify the document prints a tonnage. QA BLOCK: LCE double conversion — the source column label 'LCE' prints a carbonate-equivalent (LCE) figure, but the row is stored on the Li_mg_L basis, so the LCE-canonical pipeline converts it to LCE AGAIN (x5.322785). Store the document's native elemental/oxide column, or set grade_basis to the carbonate basis (t71: 15 rows across three issuers). Human review required.
QA fix+approve (t100v, q5.txt): contained_metal=551400 tonnes_t=NULL. Same class on the total: p.5 "The LCE MRE of 551,400t LCE @ 294mg/L", also corroborated on p.4 ("On 14 July 2025 an upgraded Mineral Resource Estimate was released with 551,000 tonnes LCE") and p.1 ("a drainable MRE of 0.551 million tonnes of LCE"). contained_metal = 551,400t, not 2,934,984. Printed rollup reconciles EXACTLY with its printed leaves: 14,800 + 536,600 = 551,400. tonnes_t nulled. Note the p.1 mention of a larger "maiden mineral resource 3.814 million tonnes of LCE" is the non-drainable figure and is correctly not stored — the drainable 0.551 Mt is the operative estimate the announcement carries forward.
t100v