Ann: Breakthrough in Gallium & Germanium Recovery, page-264

Couple of thoughts on the issue of design progress for your consideration:

1. The design is being prepared by KnightHawk Engineering as a subcontractor to MTM - KnightHawk Engineering owns the program. MTM can only report what it's been told.
2. The end of February in the US, whereKnightHawk Engineering is working on the design, has not yet expired. It is not until Australian time Saturday.
3. From the client's perspective, delivery of design at 9am Monday is the same as delivery of design at COB Friday (Australian time early Tuesday).
4. We know from the response to the Investor Hub posted by @Red Baron that a new FJH test model is being installed at KnightHawk Engineering’s facility. Very plausible that this would extend the design process (just like problems, innovation usually extends design processes).
5. Designing something that has not been done before will undoubtedly uncover issues and also as they go, getting input from Indium may impact delivery.
6. If we revisit the announcement from 29 January https://investorhub.mtmcriticalmetals.com.au/announcements/6766743 it actuallys states that "the process and mechanical design criteria for the Demonstration Plantis on target for completion by the end of February 2025. Remaining detailed design elements will be finalisedover the ensuing weeks in the optimisation phase"

I know other comms has left shareholders with the expectation that the design would be completed and announced at end Feb.

However, based on the above I don't consider the implied delivery date has been missed, and I don't really see any reason for concern as early as today.

Further, if the matters in points 4 and 5 above do transpire I believe that MTM will update the market. I just think that is their style.