Ann: Becoming a substantial holder, page-36

So ZEO and Holcim are doing an MOU...

Boral seem to be doing something with Calix..
https://www.aumanufacturing.com.au/boral-led-team-investigates-calcined-clay-in-lower-carbon-concrete

Who are the other large players (with an Australian presence) who could also get in touch with ZEO about our "world class" Kaolin?

Top world players that have Australian subsidiaries are (‘23 revenue included)

Holcim Group: CHF 27.0 billion (~USD 29.5 billion)

Hanson Australia: EUR 21.2 billion (~USD 22.4 billion)

Cemex: USD 16.1 billion

Boral Limited: AUD 2.9 billion (~USD 1.87 billion)

Adbri (formerly Adelaide Brighton Cement): AUD 1.7 billion (~USD 1.1 billion)

CRH plc: USD 36.9 billion

China National Building Material (CBM): CNY 265.5 billion (~USD 36.5 billion).

These revenues reflect the global significance and scale of these companies.

All of these are serious global monsters!

EU pressure of switching to green alternatives is real, big and happening.

Holcim’s EU sales (shown in their most recent half year report) of their low carbon cement (that contains metakaolin) already account for 30% of all their cement annual sales… it’s only going in one direction.

All this tailwind makes sense why ZEO is being chased these large players.

So as for “counterparty/customer risk” - these guys would be incredibly credit worthy… a quick look at any of their annual reports shows they have more cash in reserve than some countries!