The PFS is based upon the following assumptions:

  • 100% Equity
  • Production Ramp-Up over two years, reaching full production in Year 3
    • 50,000 tonnes in Year 1
    • 100,000 tonnes in Year 2
    • 300,000 tonnes in Year 3
    • Construction on playa in Preproduction Year 3 (“PP-3”)
    • Effective tax rate of approximately 29%

The economic analysis was based upon Measured and Indicated Mineral Resources only. No Inferred Resources were included in the analysis. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Although a PFS has been completed, Mineral Reserves will not be established until further verification of the hydrologic models via longer term pilot-testing planned during the Feasibility Study expected in 2014.

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