Ann: Approvals Received for Western Strategy Resource Drilling, page-158

Just watched Tim Murray present, a very professional and well spoken presentor and definitely very knowledgable in this space.

Basic notes;

- Sunresin orders take 9 months to deliver, FID later this year and expected delivery potentially mid-late next year. So 2025 production sounds achievable.
- Colorado River wate rights cover both Paradox and Green River, my take is that hints to two production plants in future (my opinion).
- Funding expected 60% debt and 40% equity.
- Sunresin looking after plant operations from start to finished product (including carbonation).
- Sunresin very experienced and commercially proven, not only DLE tech but production of resins.
- Tim made note of comparison DLE techs being not even comparable to Sunresin in terms of how advanced they are given years of experience.
- "Others" still only in R&D and lab scale, ASN and Sunresin approx 4 years ahead of the rest.
- DFS financials to improve given power generation, expecting OPEX to be in first quartile (very significant in terms of profit margins in whatever market).
- Lithium production first, then Bromine later (but we already knew that).
- DOE loans "we'll get that" at 10yr low cost of 4%

Could be some points I've missed but that gives you an idea.

My overall take was very impressed with Tim as a spokesperson.