Ann: Quarterly Activities Report, page-5

Morning Blitz,

I am not sure how you got NLN from the following comment's

"Enormous volatility has been experienced in global bond markets over the quarter with Covid-19 dramatically reducing primary bond issues & more recently unprecedented governments stimulus reactivating the interest of investors. While this recovery in interest is encouraging it will take time to infiltrate the high yield end of the market."

The immediate objective is to secure binding term sheets which will determine funding partners and the structure to be adopted moving forward."

The company is saying, Pareto is dead in the water, the other funding options need a binding agreement prior to moving forward. ASX:STA is a perfect example of working directly with an African bank. Once they secured Nedbank, it took around 14 months to gain conditional approval.