Ann: NSW Mining and Exploration Conference Presentation 2022, page-78

Unless I am mistaken :
One of the many matters that deserves some "clarity"in the upcoming Quarterly ( if not before ) , is the current status of the DZP Design Work Contract awarded to Hyundai Engineering on the 9th June last .
Three of the items in the basics of the Contract are clearly still in limbo:
#• The Contract Price for the EPCD is AUD $46.7m and is fixed for three months
#• Conditions precedent to the commencement of the work are all necessary approvals
from both parties are received, and ASMH has issued HEC with a Notice to Proceed
(NTP)
#.• If after three months ASMH has not issued a NTP, the Contract Price may be varied bymutual agreement based on reasonable and demonstrated costs.

This is yet another still "uncertain"matter announced under previous MD's watch , that continues to leave the market in an uncertain state , and allow the share price to drift . There are quite enough matters of economic uncertainty that the market is confronted with at present , without adding the lack of clarity on price and time to this Contract !
Unless the Chairman verbally commented with some further clarity at the recent Orange Presentation , there is nothing in the Slide that helps .
Korean and or other Government Funding is almost certainly not going to be awarded , without a path of certainty ..as regards this , as well as Korean Plant being fully commissioned and ramping up , and further Offtake Contracts being announced .
No doubt the Ian Gandel/ Rowena Smith combination have a lot of work to do , rectifying the status of ASM 's undoubted potential ! With such a real need for the metals to come out of the South Korean Plant , and a need for the FEEDSTOCK raw materials to eventually come out ot TOONGI , to at least have more than the "shovel ready "status of several years standing .
Long overdue for a rerate ...perhaps the patient accumulators will get the benefit of finally UNDERPROMISING and OVERDELIVERING ...rather than the reverse which has been the case for the most part of 2022.