Ann: Appendix 3B-HZR.AX, page-8

Just some friendly earnest advice. I really think the business model for Hazer is complex and conductive carbon blacks. This market is incredibly lucrative and feeds straight into the battery supply chain. Doesnt require large volumes either - which also suits Hazer.

In batteries there are two types of 'blacks' you need. The literature and marketing hype all focus on the conductive black used for electrodes in batteries (i hate the words cathode and anode fyi and i view them as misnomers). And by 'batteries' i mean both primary cells and secondary cells. Aggregated. Aka disposable AND rechargeable.

The 'black' used in a disposable cell is far easier to 'qualify' for end usage - ie: only needs to work once and then you throw it out. These batteries also don't explode as easy as rechargeables can (ie: money in bank is safer from suit and refund). A business model line of thinking reliant on older concepts of economics state 'obseleteness is necessary to profitable business'.

The other black? This is used in rechargeable - but not only for electrode. The real money will be made on 'conductive blacks' that can be used in the 'electrolyte'.

Hazer focus should be on making carbon blacks of the pedigree outlined above. It could provide immediate income stream. The HZR process appears to allow 'functionalisation of 2D materials' - which is basically what carbon black is - a 2D material.

Carbon black is documented as manufactured from 'imperfect combustion'. Hazer process is capable of this imo. Ask the Hazer scientists for their thoughts?

If they have any doubts about what i am saying above - then they should state what they are so that there is an opportunity to refute them now.

They can't wait much longer imo. And i just don't see spherical graphite being the most suitable for Hazer. There is better available to them. Again... imo.