Ann: Shareholder presentation, page-26

Well they need to release some good news soon IMO, buyers depth is as weak as water at the moment, If the gold price falls any more without an update I can see us going lower again. Tomingley operating costs continue to disappoint (moderate improvements from presentation noted). If these actuals were known with the BFS I doubt it would have proceeded at the time (the falling $A has been a godsend to fortunately offset).
We aren't valued at our gold value anyway; I think we will continue to trade on how close people think we are to a financing deal.
I've been bitterly disappointed following the EPA approval, I was picturing they had many cards lined up ready roll (updates on offtake agreements and partnerships, even a funding partner). Perhaps they still do. They certainly take the cake for a slow and steady approach.
Feel free to blame the NSW government. They keep us hanging, first delaying the EPA approval for almost a year and now not getting around to giving us the final approvals/mining lease.
It's simple, really: no binding deal on financing until we get full approval. Now, I'd have liked management having gone for publishing some MoUs in this direction, but I guess that that's not legal for the agency credits and the commercial deals will wait until after those credits. As for the sale of a share to the strategic partner, I think that will be one of those companies who also use hafnium (Siemens, GE, Rolls Royce, Boeing and Airbus; maybe Thyssen*). Since we only got an industrial scale test circuit running less than 2 months ago, I can understand that there is no such deal yet ...

*in the recent presentation there was a picture of a turbine for a ship by Thyssen Maritime; Thyssen of course would also be a big buyer for our niobium ...

I'm still convinced the Hafnium (as other it seems), is being pushed from an external stakeholder rather than Alkane thinking we should add more complexity to the DZP at this point. Hoping this will be proven true and the real story behind it revealed soon. Another positive is the fact sentiment towards Lynas which we have always (unfortunately) tracked relatively well, maybe be finally turning hopefully for the long term.
From all I have read and heard (cf the Lifton-Chalmers interview on investor intel) it was first pushed by the external partner but then presented itself as a huge opportunity. Revenue from Hf, depending on the price, will be somewhere between 15% and 25% of the DZP, at low capex (<50 mio), marginal opex and minimal added complexity. It also improves the purity of the zirconium stream and thereby increases the zirconium revenues. A real no-brainer to go for it, imO, especially since it should also make it easier to get financing ...