Ann: Board Update, page-3

The BoD must already have a good idea of the source of circa $1 billion required to have SD producing 5 mt of high grade concentrate in just 27 months (2026) for the BoD to have made the decision to retain 68 year old Mr Zhao to see SD to completion.

The more than decade long talking about SD is over. The development of SD has finally started.

If we go by Mr Zhao's record in project management then he will likely beat his own indication of 27 months.

Technological advances such as modified polytetrafluroethylene lined, thin walled, flanged, flexible pipes (that will likely source from China) will make construction of the slurry line quick . . . as well as being highly efficient.

The inclusion of a return line also means that ionic dispersants will be used that greatly increase throughput through the slurry pipe.