Shooting the breeze on ADO, page-4179

Agree with your summary on NRF EB, a lot to do before any $$ begin to feed out of the fund. It does look like a pretty good way to structure it all with an independent board making the recommendations and overseeing the program.

There are a few other current federal along with state gov programs you have pointed out available now. Federally particularly in CRC related initiatives (one recently closed applications in March with funding available in June) and agriculture (foot and mouth) that are already budgeted for and underway, unsure if they will relate to Anteo at all but they would be a potential candidate if they have applied for them.

The NRF does look to be a great program that if applied well will setup some fast moving industries at home, fingers crossed some of it flows this way, but not counting the chickens just yet.

There will be a lot of interest from many of the Aussie battery/ clean tech/robotics/quantum/ med tech and AI companies and given the vast majority are at 12 month lows probably not a bad time to have a look around at a few potential bargains.

The fact the board have now decided to keep the anode results commercial in confidence also gives a bit of promise that they are closer to finalising something rather then out there looking for new partners. Many competitors are shouting results from the rooftops why are Anteo not doing the same?

Only reasons I can think of is A. It is not going as planned (wouldn’t be the first time) or B. they are highly confident they have something significant and already have support/interest in the background and those looking at it closely don’t want to alert the competitors. (The board and battery team seemed pretty confident at the AGM so hoping option B)

Have seen many recent JV arrangements in the EU and US linking some very heavy hitters who knows we may get lucky and be incorporated into a few of them going forward.

Bring on the pilot plant once they can prove AnteoX at scale this becomes a very interesting investment case not just for all of us but also government and many companies in the battery space to stand up and take notice. Doing things at small scale is much different to doing them at full scale (we saw first hand how producing mass covid tests went early on for Ellume) this will remove any lingering doubts if/when successful.

Also still have the life science teams working away diligently and seem to still be adding new staff members, can’t imagine they are adding mouths to feed for no reason.

Converted the last of my own options this week and did it with confidence in the new board and project management teams along with the great science teams they have in place that they will get the job done scientifically, strategically and successfully. Strangely was more confident converting the options at 3c with the SP at 3.5c then when dropping funds into the last cap raise at 26c when the SP was at all time highs, should learn to trust the instincts a bit better. Live and learn…

GLTA