German Trading, page-15

I agree entirely with what you have said, particularly this comment; "However if as usual with EGR there is no information follow through then the SP will get pushed back down."

It was pointed out to me yesterday by a long-term holder that a timeline for a FID on Kwinana hasn't been mentioned by the company since the Indaba Conference Presentation at the beginning of February (I have not double-checked this). He said that the omission in recent announcements of a timeframe for a FID on Kwinana coupled with the significant oversubscription of the Placement has him concerned that we are not close to a FID. My takeaway from conversations with AS are contrary to his concerns, but it's critical that we start finalising our programs if we are to retain shareholder confidence.