Ann: Change of Director's Interest Notice - S Williamson, page-14

BSX is bulding a refinery? Really? Where is the 1,000m dollars for capex coming from? Which partner will be bringing in the tech and equity required for the project (~250m)? I rewatched Scottie's interview from a year ago and he said they are close to locking in a partner. Fast forward 1 year later, 0 partner announcement, 0 offtake agreements, 0 financing announcements, 0 resource updates, 0 announcements on how to secure concrentrate for the other 20kt for the planned production.

All we saw in the past 12 months is growing competition from Indonesia, falling class 1 Nickel price and some absolutely useless BSX announcements, which didn't even move (up) the SP a single bit.


Downstream DFS due next few weeks? Mate, it was due 3 months ago. Upstream DFS is due in the next couple of month, but I have a feeling that will be delayed too.

If I handled / delivered my projects like SW do, I would've been let go a long time ago. I am not sure why other investors are so patient with him.