2021 - General Discussion, page-4559

I agree, the product qualification process is arduous but it's not as though FYI has only recently started providing product samples to potential customers. We know from company announcements that product qualification on samples provided has been underway for some time now.

I fail to see how us not running the pilot plant continuously is a bad thing. The primary purpose of the pilot plant is to optimise the process and to provide product samples to potential customers. I'm not at all concerned about the pilot plant.

Re "optimising their process", this could mean a myriad of things. Not all optimisations result in a change to product spec. I don't see this as being a great impediment to signing offtake agreements. Time will tell though.

We do not know for certain that FYI has an offtake waiting in the wings because it has not been announced via the ASX. We also cannot be certain that we don't have non-binding offtakes and that they might just be awaiting JV sign-off. It's all conjecture at this stage.