Ann: Successful ELi Purification Pilot Trial, page-6

The Eli tech was never dumped. It has become the subject of a renegotiation since Bondalti decided to set up a totally new business unit dedicated to Lithium.

Bondalti has continued to fund their share of the trial costs. The fact they have set up a whole new business unit undicates they are still very keen on this opportunity.

Uncertainty has arisen because we do not know what the new agreement might look like (terms, territories etc.) or exactly who the counter parties to the agreement will be.

i still believe that if the Eli tech is as good as the numbers imply then it is potentially the biggest asset NMT owns. A $2-$3k per tonne opex advantage is massive in a chemical processing business.

As always, just my opinion so probably wrong.

SC