Ann: Industry Leading Life Cycle Assessment results, page-54

You are right slinger, it is all conceptual at this stage.

I am not sure how old you are slinger, but I myself I am old and grey...

I remember some fascinating discussions from many many years ago, when a well respected mining engineer discussed how Twiggy Forrest was going to use essentially road construction trucks to mine iron ore - never been done before - and the volumes of ore that were being talked about seemed unimaginable at the time...

Similarly, when considering in detail all the things that had to go right for "fracking" to yield coal seam methane gas before major projects took off in Queensland, I remember how experienced analysts where shaking their heads... it just seemed too... conceptual. Too many things that could go wrong for these mega projects to become reality.

Go back a decade and. a half, and Elon's master plan was belittled by other car manufacturers and ridiculed by battery experts...

Now you are right, there are was many "conceptual" stocks on the market as there are stars in the sky (figuratively speaking). Most will fail, risk is high and people here getting sucked into gold lithium rush fever raises red flags for any hardened investor.

However, when looking at VUL, I look at the senior human talent joining the company. Each appointment represents a degree of professional due diligence undertaking by professionals with careers and personal reputations at stake. No one wants to be associated with a dud company.

Then you look at the building blocks that can reasonably be expected by a company at VUL's evolutionary development and ask yourself how credible these are...

I do not like Gina Reinhard, but I suspect that her investment in VUL would not have occurred without a certain degree of due diligence...

.... and finally - and I appreciate that given Australia's backward understanding/acceptance of man made climate change - when a company provides an industry transforming path forward to reduce emissions, I do take note.

I recall a time not so long ago, when (Australian) lithium miners did not see any contradiction in using diesel generators to power their remote location operations... VUL could change all that - for the entire industry.

Conceptual yes, but can we really fault them on execution at this stage?