Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-121

So stage 1 of the EPCD should have been completed by now, we will probably get an update in the next quarterly.

wonder if we will get an update if ASM signs off on stage 2 of the EPCD? Think it was only $12m in total fir stage 1 and 2 so we have the cash.

What is quite interesting, stage 3, which is on track to completed mid next year, will cost over $35m and ASM may have to sign off on that later this year if they want to complete the full EPCD contract with Hyundai without having gaps in between each stage.

I wonder if they will progress stage 3? $35m is a lot of money, maybe more than half of our cash reserves?

I think it’s going to be quite a defining 6 - 12 months for Dubbo.

my opinion was always forget about Dubbo and focus on the KMP and grow this side of the business, but we are so, so slow at getting offtakes we are not even at breakeven yet……

Anyway, in her latest video, from how I watched it, Rowena pretty much said Dubbo offtakes and financing will be over the line by the end of the year and we will all be loaded again!