Relevant Media, page-3334

It has worked out, on paper, but nothing is yet inked so let us wait and see.

HEC were awarded the FEED in a period of exclusivity on the 31 March 2022. The exclusivity period expired in February 2023.

With Bechtel and USEXIM it is the chicken and egg scenario. Bechtel was appointed in March 2024. It was Bechtel as a third party that made the application to USEXIM a few days earlier. The earliest ASM could have been talking to Bechtel was in the December quarter of 2023 as stated in the ASX query response. That means the time between April and August 2023, we were a dead duck with regard to the FEED. To me that says HECC ended the exclusivity period. But we do not know the details as to why because ASM never discloses the expiry or termination of contract or their relationships with partners whether Governmental or NGO's.

The timeline does not make sense that ASM ended the relationship with Hyundai, or communication would have commenced with Bechtel in March 2023.

What we know about ASM is that have an unwritten policy of not disclosing any information that would be detrimental to the company. We have evidence of that with the destruction of 60% of the share price in 60 days. Insiders all got out and us retailers were left holding the bag. The same has happened with HEC and Bechtel, the same happened with that momentum destroying huge discounted tiny CR for working capital.

You can laugh out loud all you want, but I have now explained my theory to you. Just take it for granted that I can bac up anything i say, I am not just a down ramper or pumper, whatever... The generalist statement that we ended HEC because of Bechtel cannot be proven by you. Again, I believe I am correct, on the balance of probabilities, common sense and ASX announcements that HEC ended the contract with us by not delivering prior to the end of the exclusivity period.

Now when you assess the balance of probabilities, in hindsight, you can always reflect on posts made prior to the end of the exclusivity period with HEC. I remember posts made by certain insiders who were in Korea saying that the contract for FEED with HEC would never eventuate.

I hope you accept the above at least on probability as to not do so means you are part of the blind faithful.