2022: Turning point., page-5

Hi Florian,

March 2022
Demo Plant Operational. (This is the game changer! Partner deals can come anytime after this. Why? Because tech is working at scale Nothing can happen until demo plant is up and running.)

MID 2022
Bulk Samples Produced and Sent. (Upward Momentum on SP)
Partner/Off take. (This is where you will see major spike in SP)
Waste Water Streams Mount Isa Test Results. If positive could be a rerate situation. As more cobalt will be added to the reserve quite cheaply. Processing is cheaper too. Could be a rerate here. If results are negative then status quo.

LATE 2022
EIS Environment Submission
Possible Project Funding (This is a hazy one for me. Could come much earlier, perhaps with the partner/off take deal. Reason is due to the latest Korean situation. If it comes later, then perhaps after Feasibility study. Major Spike in SP)

2023
Feasibility Study 1st QTR
Decision to Mine 1st QTR