Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-14

I share similar sentiments regarding the options and also happy to wait until after the 307mil options @ 2c expire on 16/12/22 and the 177mil options @ 3c expire on 02/02/2023..... As long the QGC feasibility study contract evolves into a Construction Contract

If it does eventuate, I suspect to see this news early to mid next year. in which time we'll start seeing a cash injection from the remaining 246mil options @ 1.9c.

The 5 broad areas and QGC contract payment milestones mention in this quarter may relate to the below from the earlier contract ANN.
It did also mentioned the process piloting activities would incorporate the up-scaled iBC pilot plant.

Mr.M may be able to clarify this with Bahay if/which of the 2 below milestones are complete.



Receipts and cost of goods were both slightly lower than I anticipated, though they balance each other out anyway.
Great to see sales and the backlog of work growing.
Hope some of the lag with cash receipts can narrow the gap next quarter as the Mawpump transaction will be finalised, as previously mentioned. I'm anticipating the Dec Quarter to be closer to cashflow positive than others.

The potential IP breach is quite concerning, particularly as it's a major international company PWN's dealing with.
Going head to head with one of these company's is not going to be easy and I'd imagine quite costly if PWN deem further action is necessary.

Aside this challenge, a decent Quarterly report.