Ann: Letter to Shareholders, page-18

If “discussions are at an advanced stage”, that could mean Q1. Perhaps comfortable enough for MoUs.

For binding offtake I think we need:

1. The independent Halloysite-Kaolin estimate
2. Mine plan completed
3. Logistics analysis completed
4. Scoping study completed

It’s Binding Offtake in combination with a strong scoping study that should get us moving.

Any of the above could generate shareholder interest.

I’d prefer a very large proportion of shares and oppies to be accumulated by long-term investors in the next few months. Will help to reduce trading churn when the good news does flow.