Ann: Progress Update Webinar with CEO Tim Dobson, page-47

If you're invested in the stock, then it would be worthwhile/prudent to listen to the recorded version which Tim said should be on their website in the near future.

Overall what he presented sounded very positive. As a long term holder, I totally agree that the performance of this stock since releasing their PFS has been disappointing, however it seems that they have a plan and are in the process of executing it. We're talking about a huge investment to get this up and running and we need to appreciate that it takes time. They are looking at having at least 2 JV partners to share the risk and help fund the project. The non-binding agreement is only non-binding as they are trying to finalise a lengthy contract, but a lot of work behind the scenes has taken place to come to an agreement with JFE Shoji. This needs to be completed before Jan 2025. They are also hoping for a second JV announcement in the near future.

Once they have the funding in the bank, to proceed with the DFS and FID, they will announce more accurate timeframes to get to production. While a timeframe now would be nice, this approach also makes sense.