Ann: Commissioning and First Shipment Update, page-16

Restructure in Chinese means bankrupt.

JRO are running at 20% factory capacity and do not have the funds to pay for off-take.

This will be announced at some stage, probably with the introduction of another off-take partner.

I hope they have also sent representatives to Europe for off-take discussions.

The Chinese communist party is currently playing hard ball with Australia, through their companies.

They are delaying agreements, and sending this as a message to the Australian government. Relations continue to sour over Chinese expansion into the South Pacific, for military purposes.

PAN is nervously waiting on delayed renewal agreements.
TWE has tonnes of stock delayed at Chinese ports.
Many other Australian companies are having the same problems - and it's primarily political in nature.

AJM will be no different, but is in a worsening situation because of the bankruptcy and corruption at JRO.

The future of JRO will depend on how much influence it has within the Chinese Communist Party, not on pure economics.

Let's hope that AJM management are visionary enough to not just rely on China.

Gw