Ann: ARL SMM and MC to form a JV to develop KNP Goongarrie Hub, page-24

Great work to all three parties involved.
ARL, SMM & MC.

This is a huge step toward potentially unlocking the more than 6Mt ( 6,000,0000 tonnes or as our Canadian friends would put it, over 13,000,000,000 lbs ), of nickel and around 0.5Mt of cobalt.

Then there’s the potential to produce some scandium, gold, PGM ( Platinum Group Metals ), REE ( Rare Earth Elements ), etc.





It’s very encouraging to see that early works for the DFS are basically starting now.

If all goes well we can look forward to the DFS being completed around the end of next year ( perhaps getting the results then or in Q1 2026? ).

All in all it’s great. To make sure the couple concerns that have been expressed lately don’t go unanswered? The recent price action was not to me a bad sign of any kind- it was clearly similar to the price run after the 62 cent sale went through ( touched on this before but oh well ), with the added realisation by those that matter that this deal was more likely to go ahead than not.

Then there’s the FIRB reaction- I can’t see any real issue as this has support at all levels of government & is a completely transparent ( and very well publicised in the right circles partly via that government support ), and mutually beneficial proposal between two allies in an area of critical importance ( resource supply for tech and military applications ), to the wider alliance between what is still the most powerful nation on earth ( USA ), & its closest partners.

Including what are arguably its two most important allies in this most important region- the Asian pacific.

This is where the US is pivoting to. Japan and Australia are the northern and southern keys ( Yokohama and Darwin? ), of that pivot.

Things will get very interesting price wise now as we light up on some important screens in Australia, Japan, the US & beyond. Keep an eye out for some kind of congratulatory note from the Japanese government? If not now then perhaps that will happen if we move to a satisfactory FID once the DFS is done…

This will very likely unlock cash from a whole new level of investor!