Thanks for the update. If there were a sign, I wouldn't blame...

Thanks for the update. If there were a sign, I wouldn't blame you for pinching it, throwing it in the back of your ute, and installing it in your man cave as a souvenir. Everyone here must be 50% plus in the red on DEL. We all deserve a corflute sign, and probably a few stickers as well.

Funny thing is, if someone had told me the day before the financing announcement last year that I'd be sitting here in mid-February with no further progress, BUT financing approved for five sites, 200 million dollars (I think?) worth of projects, five million dollars worth of working capital (that converts to shares at 12c, I think?), retrospective reimbursement of all costs and work on SA1 and VIC1, 50% equity in said projects, and 25 year contracts for maintenance on our own sites....wow...I would have taken that in an instant. I think we all would have.

I'd like to think that Palisade are no idiots. They have already put in 5 million dollars of their own money, and they obviously have greater access to management, the team, and the current state of play regarding the how far progressed the pipeline is than we do on Hot Copper. Palisade would also have financial and technical experts who believe the sites are profitable and like what they see. The Palisade guys must have crunched the numbers heavily and realised these projects are worth going ahead with. I guess I'm ahead of myself here, until Final, Final FID is announced, as I suppose they could always pull out. Sometimes, I think I should be invested in Palisade and not Delorean (joke).

Unlike the decision to get involved with short-term traders, Regal Investments, Palisade, with their renewable energy funds, seem like a good fit for us. Also, they are well down on their 12 cent target for the money they've invested to convert to shares, They must think we are a strong chance of having assets worth at least that amount in the medium term and recovering the 2.4m and 2.6m already invested.



Let's say Planum only got Palisade involved in August or September. A deal was hastily put together in October with intensive, but not extensive, due diligence. And it's taken another few months of due diligence because of all the moving parts with this complicated deal. We're in February now. I guess it could make sense. I'm the optimist today. Yesterday I felt like Mr. Hyde. Tomorrow, who knows!? I am thinking that if/when SA1 and VIC1 get the final approval, SA1 & VIC1 could represent the longest approval time of the five sites if Palisade is playing catch-up. Our next closest site to FID is QLD1. In theory, DEL and Palisade would be working together on an on-going basis over the coming months. So, if the QLD1 site is shovel-ready in late 2023, I suspect the site achieves FID quickly, as both parties will have been working collaboratively toward that goal for most of this year. It could well be Palisade who are playing catch-up here, not DEL.

Hopefully those trees at SA1 can come down soon and the site cleared. That would be a great start.