Ann: Trading Halt, page-55

The project has now derisked to a point that I am not at all concerned about Nolans (& Arafura). Not all the information is in public domain for right reasons. It is customary (especially in opaque commodities and even more so in North east Asia - Korea/Japan) to sign non-binding MOUs prior to agreeing binding offtake agreements. The Federal government support (NAIF, EFA), the government level engagement with Korean delegation, Scomo mentioning Arafura in his speech, the US government's critical mineral push (& I mean a REAL PUSH not seen in decades). The narrowing down on upstream feed and downstream tolling arrangements. These are all indicative of what's coming in weeks/months to come. I am keen to understand the details of MOU signed - What sort of wordings have been used around equity, export credit. Which country is involved (guess South Korea!? time will tell ). I have held onto every single share I ever bought - only regret I have is why i didn't buy more at 12c after the CR for feed study back in 2021. Any way - its onwards and upwards from here - As I have always said - I do think we will see a lot lot more from Arafura and Nolans after the FID. There will be growth in form of more exploration and perhaps an expansion of capacity driven by demand/strategic partner willingness to finance. Watch this space and congratulations in advance to long time friends here - I don't post much for reasons I mentioned before but Arafura remains an important jewel in my portfolio.