Ann: CEO Presentation to the AGM, page-59

This mate. it's been a tough six months, but this is where long term holders will make their money. People are terrified to invest in a company like NVX at the moment. No profit, no positive cash flows and leaking cash.

Not financial advice, but I have tactics of my own I employ when the waters start to look a little murky. It is important to distinguish when to actually cut your lossesb are run from a stock, sometimes this is required. But I strongly believe this isn't the case for NVX. Like Paul has mentioned, we have the best team in the battery/graphite space. Don't get me wrong, we are paying for it too with some ridiculous salaries, but to attract the best sometimes you've got to open the cheque book. When you are world leading in your field, life is more than taking the piss out of a company for $$$. They have a reputation to uphold and presumably want to push boundaries and make history, they are world renowned for a reason. The recent Saudi deal provides some verification of this. In the works since 2021. It is a slow, long process, and the road will be a long one, but at this stage the bulk of the investment thesis is about backing in the BOD, management team and the scientific advisors. My view? You won't find better in the industry.