JM 50mins, page-36

That was an excellent interview. Very informative and quite exciting. The one problem with ADN and perhaps also how James sells the story is that it is a movable feast. I guess that is part of the nature of being an industrial materials business. One the one hand the DFS provides a plan to ramping up production of several different types of product over four capital investment stages, but in reality the operation of the business is likely to be a little more complex and nuanced in that we may end up catering with contracts to supply specific clients with customised specs. I think the way JM explains the potential can end up confusing investors.

You might be too young to remember audio cassettes. Back in the day when we would all pirate each other's music cassettes or record the weekly top20 from the radio to play in the car, BASF cassettes were one of the premium quality brands.

@Robbo3333@stemmo and others. I'm no expert on ASX listing rules and I don't know if this interview was released during trading hours because Crux Investor subscribers get earlier access and the video becomes broadly available after some delay. That said, I can be sure that the announcement will not be marked price sensitive by the ASX because it will most likely be non-binding, subject to conditions and further agreement. Some of the details in the LOI might be subject to non-disclosure or considered commercially sensitive. My experience has been that the ASX is recently more inclined to enforce its anti-pumping stance. It comes down to how the announcement is worded, but they would not consider announcement of a LOI as likely to be information of a material nature that is likely to effect the share price.