Ann: Dry Processing Trial Results - Table 1 information, page-8

It sure seems like 5N analysis is 'doable' here in Aus........complex but achievable.

Clearly Ultra Trace can preform the analysis and independently verify 5N (according to the FYI ann) but for some reason JM decided that it wasn't practical to pursue at the time.....? He mentions contamination risks............so until ADN are absolutely sure of the assay methodology and analysis outcome they deliver 5N goes on the shelf as "impractical" it would seem.

I would certainly like some clarification on the 5N analysis decisions made here............(not expecting anything too soon though).

For me confirmation of 5N while advantageous in terms of broadening our possible product base has always seemed to be of 'lesser significance' to JM and the company, and considering the expected 4N market dynamic probably rightly so..........for me confirmation of 'single pass' (S.P) was the main focus and confirming S.P 4N HPA is probably the biggest single achievement ADN have delivered in recent times (along with various other significant outcomes no doubt, don't get me wrong, they have delivered and progressed well imo).

Interesting thing is Ultra Trace now appear to operate under Bureau Veritas Minerals as far as i can see:

https://www.bureauveritas.com.au/home/our-services/minerals+laboratories+and+services

............and early HPA met work quoted by ADN appears to have been done by the very same company...............

2018 26th April ann.........."The potential for Carey’s Well to produce high purity HPA represents a significant opportunity for further development. Pilot plant trials conducted by Minotaur on kaolin from Carey’s Well has produced one of the purest kaolin feedstocks available (refer Minotaur’s Quarterly Report September 2012), while testwork with the goal of confirming that 3N and 4N HPA grades can be achieved is underway in trials being conducted by a commercial laboratory and with UniSA and the University of Newcastle researchers"

ADN then moved over to BHM.................

From HPA testing ann for ADN......(4th Feb 2019)

"Round One preliminary testing carried out by Bureau Veritas, UniSA and the University of Newcastle achieved a purity of 99.9855%"

"The Second‐Round testing conducted by Perth based BHM Process Consultants"

So until JM clarifies his stance on the 5N analysis decisions..............we'll have to wait, and no doubt speculate on the reasons behind his choices.