Ann: Macquarie Bank Conference Presentation, page-4

Compared with the Morgan Stanley presentation published on 24 Oct 2019, here what I have noticed

• FY2020 Phoslock sales forecast revised from the range of 10,000-15,000 tons to the range of 10,000-20,000 tons
• The company gives a figure to the 2nd Yunnan lake - 1000 tons commencing Dec 2019/ Q1 2020 and no longer use the word "trial".
• There seems to be a new sales/project management offices in Nanjing, so potentially a project in that region.

Also FY2019 forecast Revenue of $27-30m looks more and more likely as we get closer to the end of the year.