Ann: Quarterly Cashflow Report - June 2023, page-79

"Sure it can be done without it, but it incurs significantly more risk, for obvious reasons."

Does it? Why? What is the risk? Is it actually significant?

We are not making sofas or beach umbrellas.
We are going to be producing one of the hottest products this decade, in high demand and with an exponentially-increasing demand profile.
Imo there is absolutely nothing to be concerned about wrt offtakes, as there would be effectively zero risk of inability to sell product at great margin even if we had to for a while.

Besides, the KEY point is simply that it is all coming together, and in the coming weeks or months (doesn't really matter, unless you can convincingly explain how it materially impacts our immediate activities) we will have something in place and be celebrating a massive milestone:

The key objective of the strategic partner process was to assess, then select via mutual
alignment to secure funding and long-term off-take arrangements for the 10,000tpa
expansion operation from a tier-1 counterparty in the EV supply chain. The Company has
undertaken a comprehensive and thorough process, including multiple phases (due to
significant and increasing interest with varying propositions) during the course of the lithium
market uplift over the past 2.5 years, and this process is now nearing finalisation.
The Company was not constrained by a set deadline, preferring to achieve a favourable
deal for stakeholders and a mutually beneficial partnership, aligned for the long-term
sustainability and strategic benefit of the parties.
As such, the Company is progressing to finalise the key agreements for such, via an off-take
agreement for long-term battery quality lithium carbonate product supply and a finance
agreement for the 10,000tpa operation funding.