Ann: Corporate Strategy Update, page-9

In fact i did expect some delays, (and althought i started to write a few days ago about my guess that there wont be off take partner result release before the AGM,and maybe even in Q4, but i been at work during my post writing,and left the program running for long time open without opening the screen and finish my thoughts...so the program reopened itself deleting the content );

Also i view the corporate strategy well reasoned continue to progress the DFS doing important works which takes long lead time and/or adds significant derisk and/or value to project seems highly logical while dont go into the engineering yet which consumes pretty big summ,and might would need to be altered to our partner specific needs ( this also shows that at the ending line the remained serious interested parties range from big mining companies with their Christalisation/Refinery at place,all the way to car and battery manufacturers, some is happy with the 2.25MTPA,some thinking much bigger?! i dont think anyone at the last stage interested at the smaller approach.. )

Also we can see that there is really two option possible at this point, either we getting offers which not really hit the company ideas, or just simply really those potential partners really need those additional infos out before they willing to commit to the terms what Ardea looking for. I think might both is true in the same time, but i am happy about it since i am confident we did received many offers serious or less serious too, but our management taking very very serious to maximize the value of this project.

The way i look on the drilling at those other locations is also reasonable. I think at worse it will take a few million in budget for the 3 location,but we start to get true idea of what is down there, and help to do longer lead time reviews of those finding and shorten any future potential developments of those assets by 6-12 month, by just simply having a few drill results to better interpret geological anomalies,and better modelling the geological structures which usually takes a lot of brain work, and constantly reviewing all those findings.

So DFS is at work partner process at work, it goes somewhat slower,and finishing the DFS tied to get the offtake/JV partner, so we can choose the right route of engineering to suit our partner.Also the big news flow extended from 1-4 month,to 1-7 month (which is pretty damn short time frame in a whole mine development timeline, ~30-210 day?! compared to the few to serveral thousands of day what usually takes from discovery until a built mine)

PS:Another very important aspects of this announcement is the following: at this point the possibility of getting additional significant credits from the mineralized neutralizer is not communicated anymore as a maybe, or an if, but rather a let me meassure how much actually it will be! Which is something what i take at this point 80-90% sure,so possibly boosting our NPV by a pretty significant way!
Watch out for the DFS as i see it at this point it will be significantly improved, and it was already far the best of the pack...
(also DFS i expect will come at Q4 2019 i wouldnt expect any earlier the release, but positive surprises always welcome!