Ann: Significant Binding Offtake Agreement Signed for Great White, page-401

Hello Ben,

Just a brief response here as I am a bit strapped for time - a quick review of previous ADN / MEP company announcements and a web search should provide most of the answers you are looking for in these respects - there is truly a wealth of information out there - but set out below is an assortment of that info that may assist in shedding light on the position for you.

For example, ADN’s November 2020 announcement extract regarding the Great White updated MRE:




Background details regarding Imerys’ famous Matauri Bay deposit from Indmin (getting a bit “long in the tooth” now, but still worth reading):

http://www.indmin.com/pdfs/697/67103/supp200803058.pdf



With some comparisons of several global deposits and their qualities:



And from Ian Wilson Consultancy in March 2020:



And comparisons with the Great White PW90 product here:




Very best wishes to all.