Developing Processes For The Low-Cost Manufacturing Of High Purity Silicon Metals For Next-Generation Lithium-ion Batteries

Achieved final critical milestones, completing a successful silicon pour

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Message: Re: News release re QRR commissioning

Thanks Bernard, appreciate your taking the time. And speaking of time we're almost at the end of Q2, so Q4 is just a few short months away :-).

But I'm a little bit confused, so I hope you dont mind if I ask a follow up question.

"[...] PUREVAPTM QRR match the CAPEX per Kg costs of Tier 1 producers for less investment (85% - 90% less) Ø PUREVAPTM QRR CAPEX per Kg of annual capacity reaches US$ 6.22 for a (2) 2,500 MTY Plant Ø Rima Subsidiary, Mississippi Silicon, paid US$ 6.11 per per Kg of annual capacity in 2015 to build a 36,000 MT annual capacity Raw Silicon plant. This represented a > US$ 200M investment"

-- the cost per Kg for 2x2500 MTY QRR is $6.22, whereas the cost per Kg for Rima's 36000 MTY is $6.11. To produce 36000 MTY would require around 14 reactors, so doesnt this mean that the cost per Kg for an equivalent QRR plant would be 7 x 6.22 = approx $45?

Thanks again for taking the time.

Brgds,

A-G

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