Ann: December Monthly Progress Report, page-13

@stag11

You may be right but I don't think so imo.

First point is that the demo plants 5th stage of commissioning is no longer a milestone to be achieved directly after construction.

With some tuning and the intermediate phase of producing MgO and not Mg, the entirety of scope for the demo plant is not aimed to be achieved for a few months after first MgO. The MgO production is much more attainable but only a few hundred tonnes of MgO will be sold while other commissioning is being undertaken. The MgO is to be sold to a WA firm.

Secondly, the first MgO will be a significant shift for LMG. First Magesium metal producer in Australia, only the second mag producer in the Southern Hemisphere, demonstrating ability and capability to expand to 10,000+tpa plant and then success in building towards 100,000 tpa in Malaysia.

LMG has fundamentall been a research and development company for all the years prior to when they produce their first MGO. When the first MgO is produced, the company instantly changes categories to be classified as a Magesium producer. With a change in identity, the industry will be acutely aware that Magesium that can be sourced from another entity apart from Chinese producers.

The Feds have already said, prove the tech works and Gov support will follow. David Paterson has said that LMG are virtually pre-approved for the Critical Minerals Fund.

Thirdly, the offtakes for the entire volume of Mg produced by the 10,000+ tpa plant is fully committed by signed agreements with America.

Fouthly, there is a plethora of other news of major significance that could drop at any time. Such as 100,000tpa plant JV or equity partners, offtakes, renewable energy agreements, GHD landfill study, PFS, etc.

We are also waiting for 10,000+tpa plant BFS, revised Local Gov and EPA agreement and approval and other.

I think the share price will appreciate after first MgO in March/April but bounce around a bit with traders and jostling of major investment.

Yes the sp, market, investors are all waiting for proof at scale. We are on the cusp.

I could go on and on but I think it may be worth while for you to read a few past announcements and also some informative threads on LMG HC.

If you have any specific questions after that there are some great poster here that are very kind to share.

All the very best.

Regards
Ken