Ann: Latrobe Magnesium Project Update, page-15

I honestly believe that some people posting do not botherto read announcements thoroughly or with an analytical mind. Rushed posts with unsubstantiatedclaims appear as down ramping to impact on a lower entry price. Post from oneperson who has only 1 post and no profile is very suspicious when that one postis only pure negative conjecture.
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1.Red with yellow highlight, recent posts quotes.

2.Blue, quotes from LMG annual report and recent project update.

3.Green and italics, my thoughts and analysis.

“So.... is no one else annoyed that they have just slipped in a 3-month delay”
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The construction commencement is not a 3month delay an it is not contradictory ormisleading in any way. The report reflects on last year, 2021.
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“In the half year report published on 15 March (8 days ago) LMG declared (page 6) that construction will start in Q1 2022”

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Again, the half year report was only delivered 8 daysago but only related to activities and forecast for last year.
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HALF YEAR - FINANCIAL REPORT - 31 DECEMBER 2021 (Last Year)

· “Completed site surveying and underground service location.”

·“Completed architectural drawings for the administration building refurbishment.”

· “Contracts tendered and works completed forfencing & gate repair, site clean-up and electrical services restoration.”

· “Most of the site preparation work for the construction of the “demonstration-scale” magnesium metal production facility using ash from the Yallourn W power station as raw material, hasbeen completed. Construction will commence on site in the first quarter 2022.”

· “At the date of completion of the financialreport, the Group is continuing to monitor and respond to theeffects of COVID-19.”

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All of the above work is part of the construction ofthe plant and continued into the first quarter of 2022.

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“Surely management knew 8 days ago that the supply chain was impacted by Covid?”
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Goodness me, yes, they did, in every announcement and report over the last 2 years LMG have said there will likely be delays due to Covid impacting logistics and lead time. Read disclaimers and honest disclosure in the annual report and investor presentations!

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Another post.

“If we do not move fast enough, we will miss out”
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What a load of hogwash! The magnesium market is expected to double by 2027. There are many independent reports and analysis from multiple sources stating this! DYOR. In addition, LMG have the only proces sthat reduces Co2 by 65% using fly ash and potentially 100% using ferro nickel slag and renewable energy. They have a very strong market for green magnesium in this world of environmental panic and search for diversity of suppliers away from China.
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This is quote from one such report “Current world magnesium production estimates for 2020 were 1M tonnes of which 85% to 90% isproduced in China. Estimated are that this demand will double to 2Mtonnes by 2027.”

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“They're not instilling confidence by reporting a delay 8 days after implying everything was on track.”
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The sky is falling Hanrahan! Again, the statement above is simply false. The procurement process is well explained in the Annual Report and that the procurement is being managed by Mincore under a contract. LMG is pushing hard to stay on schedule as is demonstrated in the Project Update.
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"It's not the delay that's the issue here it's a question of competence or contempt for shareholders."
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Competence or contempt for shareholders, are you for real?? What a pathetic statement!
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LATROBE VALLEY PROJECT UPDATE - MARCH 2022(1^stquarter 2022 as scheduled)
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“Site remediated and now ready for major construction.”

“Construction activities startedwith Security Gatehouse, Administration Building and carpark tendered for construction to allow mobilisation for major construction contractors. The refurbishmentof the administration building was completed last year.”
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The only problem I see in the above paragraph is thatthey should not have included the Administration Building in the “Construction activities” for this year. The same paragraph states that the Administrationbuilding refurbishment was completed last year, so how can it be refurbished if it is yet to be constructed?
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“Early works for thedemonstration plant have been completed and have been successful in allowing for the remediation and preparation of the site for major construction.”

“Minor construction has commenced( First quarter 2021) with major construction of the demonstration plant set to begin in Q2 this year.”

“Critical long lead items have been tendered on schedule and mitigate the risk of the demonstration plants scheduled completion.”

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I will leave it there but for goodness sake do some research before making false claims.

Regards to all holders and thinkers.

Ken