total short share outstanding, page-1872

Isn't it obvious that the original plan for Kwinana arose by virtue of Epanko being up in the air thanks to the Tanz Govt for so long? As much as I liked the plan and wanted to see it proceed as per the original plan, its clear that the likes of Posco and other OEMs demand vertical integration from feedstock right through to downstream SPG product. So when the current Tanz Govt started to make the right steps towards opening up Tanz to international investors and miners, EGR made the decision to put the orginal plans for Kwinana on hold and adapt the plans to suit the bigger picture.

It makes sense not to build a 20k tpa BAM facility here in Kwinana, particularly if constructing a shaping facililty in Tanz makes better economic sense and was the plan all along. Besides, Aust lags the US, Asia and Europe when it comes to EV manufacturing for obvious reasons. So, a products demo plant makes absolute sense in the near term for Kwinana. Likewise it makes absolute sense to build a (coated or uncoated BAM) purification-only plant of larger output further down the track, if and when the need presents.

Sure, clarity on our priortites and guidance on timelines would be good, becasue in the interim it gives the shorters an opportunity to buy back all those millions of shares at current low SP. AS happen to say to me at the AGM that the instos were responsible for most of the shorting in the stock as a hedge position. We already knew that and the pro traders follow suit. And, the covering sure is picking up speed of late.