Hello all, There is a saying that in a negotiated and consensual...

Hello all,

There is a saying that in a negotiated and consensual settlement, a fair deal has likely been done between parties when each walks away feeling a little unhappy with the outcome. The converse obviously applies to an unfair or one-sided deal.

In my respectful view a fair deal has been done today, with ADN and MEP holders alike simultaneously having points with which they are likely to be pleased and those with which they are not.

So congratulations to all shareholders in ADN and MEP - as a united entity group we will only be stronger, and together we can share in the full and singular exposure to this multi-faceted business proposition as it hopefully crystallises into reality as a world-leader in halloysite-kaolin and industrial minerals!

In particular, I am pleased that the complexities and potential future legal issues that could arise from the Joint Venture Agreement now fall away (some may recall that I have banged on about these for some time in the context of ADN's sole aspirations for HPA activities and the fertile ground that could have provided for commercial dispute with MEP down the line). For me personally this is a major de-risking event.

We will each have our own circumstances that may govern our outlook for ADN at this juncture. For those with a long-term view, such as me, I will try hard not to conflate my feelings about further short-term weakness in the share price (not to suggest it does not bother me) with my analysis of future prospects.

I suspect the market will take some time to digest this landmark event and grapple with the analysis of the tangible and intangible elements so arising; however, long-term holders who likely know this company better than any will be best placed to reflect on the latter and what they could mean for the future. Unfettered ownership of and direction to Natural Nanotech Pty Ltd comes to mind.

In the meantime, it would not go astray if the South Australian Department for Energy and Mining (or the relevant Minister, if the ML and recommended conditions are sitting on their desk for approval) could pull their finger out and give us something "tangible" to celebrate post haste!

The above represents my personal commentary only and is not intended as advice. Best wishes to all.