ADN Kaolin / Halloysite Resource Summary and Peer Data, page-44

Whilst that is all plausible IMO JM would resist a T/O. Why?

All IMO
- JM is putting his 30 years of experience and contacts into ADN and it projects
- He doesn't need a bigger fish for permitting, CAPEX or OPEX or construction
- He doesn't need a bigger fish for off takes
- he doesn't need a bigger fish for finance
- IMO a bigger fish will add to the project cost with their overheads

IMO JM can put his stamp on ADN and say "I built that with my 30 years of knowledge and experience". It will be recorded as one of the fastest and most important projects to get off the ground in Australia and JM is at the helm. In about 5 - 10 years from now he can step back from MD and become and Chair and live anywhere he likes and still run the Coy ...and wherever he goes there will be a bunch of people like us buying him a beer to thank him.

...and I am not even taking into account nanotech and any of this FA. I am happy the company is exploring these options but its just looks too far away at the moment. There is enough revenue in the LOIs and project deliverables on the table right now.

GLTAH