After the MDA

Thought it would be good to discuss what happens after the MDA is awarded and what milestones/triggers will then see the share price further re-rate. A couple of extracts from the half yearly report to prompt that discussion;

• Will the placement funds be enough to take us through from MDA approval to the CR for funding the Phase 1 Pilot?
• The MDA will no doubt re-rate the share price but to what extent?
• What other news between MDA signing and the Phase 1 Pilot CR will help to hold/lift that share price and bolster the CR?
• How much will it cost to build the Phase 1 Pilot plant and refinery? (estimate due Oct 2023)
• No revenue from the Phase 1 Pilot until Q3/2024 so 18 months of funding needed until we are generating cash
• The revenue from the Pilot at 90,000 tpa rather than 1,500,000 tpa for Phase 2 are not going to be significant (just 6% the size)
• What is the timeframe to go from Phase 1 Pilot to Phase 2 Production - that's where the real profits will lie