Ann: EGR: Innovative Lithium-ion Battery Coating Program Commence, page-29

In the pro active interview Nov 18th (link below take out the space), Roly said this (my transcription - my bolding)

“Have some key KPIs in front of us which will lead to the final engineering and FID, will probably be brought forward from our original expectations, quite a bit of work, we have our marketing elements & also the structure of the JV, currently in JV development but moving towards JV as an incorporated entity, thats a couple of things we’re going to look forward to doing in the next little while. So some key KPIs in this current quarter we’re looking forward to”

The original expectation was for stage 2 to commence 2022. This is what the asx announcement said:

“Phase two: Subject to a positive investment decision planned for 2022, the parties would enter into an unincorporated joint venture and the demonstration facility would be constructed, and detailed engineering undertaken for a full-scale HPA plant...”

You can see how the asx announcement ties in with what Roly said in the interview.

I’d deduce from the above, he hopes to tick off some of the key KPI’s this Quarter which will lead to the FID & formalised JV.

Alcoa took it’s time committing to this JV, sounds like now they have made the commitment things are moving ahead very nicely

https://www.pro activeinvestors.co.uk/companies/news/966741/fyi-resources-kicks-off-hpa-extended-pilot-plant-trial-with-alcoa-966741.html