Ann: Annual Report to shareholders, page-4

Was waiting for this to happen, was weirdly only thinking about this the other day. Selling that deposit is a good move. Don't stretch too thin, take the cash and focus attention and resources on building NAM and to a lesser extent the cathode side of the house.

We only have a month and a bit to hear about the Saudi deal. The wording sounds a little bearish, I wont be surprised if the venture collapses as per the terms. If Novonix don't get what they are after I fully expect (and hope) they pull the pin. Keep your eyes on the prize and don't overextend -- North America is the goal and anything else is a bonus provided it makes sense.