Q. Why the shift focus away from pure exploration to downstream aspects of the battery and tech metals cycle?

A. Simply put, pure exploration in the lithium market has not yielded any great dividends for any exploration junior.

As noted in previous news releases, management remains focussed on developing Zoro, but also on differentiating itself from the tens of other lithium explorers in a market where absolutely none of them are being rewarded fro drilling good holes.

I am sure that some investors will be put off by the move; however, what is really important to understand is that we still have absolute faith in our projects, and will continue to work on them. But at this time, the value to be gained — bang for our buck, if you like — is better, we believe, from alternative strategies.


The big problem for investors in this approach is that, as you suggest, it’s a completely different industry and there may be difficultly understanding what can be a rapidly shifting tech industry. But we continue to use the lithium assets as a means of attracting those technology providers/developers. Lithium is essential in the batteries that we are currently testing on the research vessel. We are by no means abandoning the exploration, but it is so costly and results (in terms of positive share price movement) have been non-existent, so we need to do something else to see us through this next period.


Q. Please explain to me the benefit of the Electric Blue Marine Power Project. It sounds like it is spending money to raise awareness of the benefits of lithium, yet Far is a mining company that has not produced great results yet.

A. The EBMP Project specifically, management believes that is vital that the company moves with opportunities to bring in new investment. Incubating battery-related technology, leveraging our Zoro property, and examining the entire battery supply chain is a natural and organic way to do this. It opens doors to investment from groups that would not traditionally invest in a mining/exploration company. And as we have seen, there is no money being put into lithium companies at this point. In fact, we are one of the only ones to be able to secure investment — our facility with Alumina — based both on the potential viability of Zoro, but also on our forward-thinking and strategic move to consider the downstream battery supply chain, which Alumina support fully.


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