Ann: Investor Presentation - Battery Metals Conference 2023, page-60

Thanks, good feedback here.
I appreciate the candour with the following:
"While he (Mike Jones) believes the economics for Lake Hope and HPA projects more broadly speaking, are ‘outstanding’ but bringing such projects to fruition can be easier said than done.
He believes the two key risks for emerging HPA players that investors should be aware of are:

1. Scaling up and optimising of the metallurgical process to produce the alumina
2. Producing an end product to the specification of the end-users, who have stringent requirements on both the chemistry and the physical properties of the HPA including factors like particle shape, size and distribution.

For the latter, HPA hopefuls need to establish relationships with customers and send off materials for testing up to 3 years before production."