Ann: Indonesian Nickel Export Tax Rumours, page-16

Spot on Branks , in the short term it never looks good when news suddenly drops about taxes so the fall is understandable as investors are going to be spooked, cant be helped if they are short term investors. In the long term , Indonesia wants to get a larger piece of the battery and ev pie as evidenced by all the recent HPAL investments. Investing in NIC is not just about Nickel anymore , you are also investing in the growth of Indonesia as a global EV and Battery Hub and all the rewards that come with that as they will be supplying to the massive Asian ev and battery economy and it should all play out 5 years down the line. Think of Indonesia like a Saudi Arabia for oil , most if not all of the oil is refined within the country so they can reap the most out of it , same deal here , Nickel is the new oil and Indonesia has the most of it so they are just trying to figure out how to maximise that potential to boost their economy. We have a first mover advantage into this potential having a strong foothold and relationships within the country already. We are already making moves by securing mines like Siduarsi to capture the opportunity ahead of us and have the cash pouring in from our smelters to make more such moves when the opportunity arises , only early days yet exciting times ahead if you have a multi year time horizon , imho dyor