Ann: Half Yearly Report and Accounts, page-94

Hey Jason..

There is currently no offtake agreement. Apparently they are on the hunt for someone to take the graphite and hydrogen from the Fluidised Bed Reactor demo plant when it is built.

The agreement they have with MIN is that MIN get all the graphite and I think (don’t quote me) the hydrogen and a royalty (for the graphite, based on profit) are hazer’s. I don’t think there has ever been any specifics on who owns the hydrogen. I did ask Michael Wills that question once, and he said he would get back to me (2 years ago.)

But according to the state one report that I referenced the other day. They don’t expect to have cash from MIN in the form of a royalty until 2022..

Hazer in my opinion, is a brilliant technology. And should be expanding right now at a rate of knots. They should be signing deals left right and centre for royalty agreements. They would be building plants all over the world and earning big royalties, sitting back and watching their market cap smash through new highs all the time, while solving the worlds energy and HB pencil needs..

By their own words they are in talks with many big household names, and the planet still churns our co2..

Patents could be an issue, and that could realistically be all they are waiting for. But in my many and varied conversations with mangement, the tech is it’s own patent.. as this technology of heating natural gas to produce hydrogen and graphite has been around since the 50s, and is also part of the reason that patents may have been hard to obtain. As the concept isn’t new. What is new is the efficiency and yield of the process. And hence it uniqueness

It is possible to reverse engineer it. But add something in the deal forbidding that. Will that stop everyone... nope.. but neither will having an Australian patent when someone from Iceland decides to steal the tech.

What they like do have is first mover advantage and could be rolling in it and removing co2 from the atmosphere in many countries by the time someone copies it.

It’s a very simplistic idea that I have of a sophisticated process. But the process works and FBR’s love to be scaled up. So make it large and get someone with very very deep pockets to build it.

All Imho