Ann: First Customer Binding Offtake Signed for Great White, page-167

As they say, the hits just keep on coming - another milestone achievement today, with Marsh and team continuing to deliver on their “promises” in almost clinical fashion now.

Today was also a timely reminder that so many of these developments have been well and truly telegraphed in earlier announcements, and are basically “hidden in plain sight” - we just need to take the time to find them.

While I am aware that Yamada has been mentioned for some time now, I did have cause to cast my eye back to the 26 November 2020 announcement entitled: “Updated Mineral Resource for the Great White Kaolin JV”:

https://www.andromet.com.au/images/uploads/reports/20201126a_Great_White_Resource_Update_FINAL_incl_Table_1.pdf

At page 25 of that announcement we might have formed a relatively solid view as to the source of the first binding offtake agreement with this reference to our Japanese friends:


Could be worthwhile refreshing our memories as to some of the other gems located in and amongst the historic announcements.

As others have mentioned earlier, I take significant comfort from the fact that Yamada seemingly put Great White product through extremely rigorous testing over an extended period and it passed with “flying colours”:



This lends material support to the view that Great White kaolin does indeed stack up on the quality front (as has consistently been maintained by ADN) now independently verified by a third party at arm’s length and on commercial terms.

Fingers crossed (but quietly confident) that Plantan Yamada represents the “tip of an iceberg” here and that further BOAs will soon follow - and based on the comments in this part of the announcement these may well originate from a diverse range of clients in China, Germany and the Middle East:



The above is my personal commentary and speculative. Best wishes to all of ADN’s shareholders.