Ann: EUR Merger with NASDAQ Corp - Equity Consideration US$750m, page-115

Spot on BR, if you watched TS on Bloomberg this morning he said BMW spent four years doing their DD!!!!!

DFS was delayed due to a huge change in conditions as Covid took hold and inflation ramped and then Ukraine was invaded. Of course, those of you who think everything is simple would consider the delay a huge red flag. Some of us see it as an intelligent change of course. Stage 1 will be spodumene now IMHO which is a far quicker and cheaper route to market, then find a wealthy German chemical company to take on the hydroxide plant. They are far better at this than a new player starting from scratch and finding the pitfalls.

Like you BR, I have a good understanding of the issues down in Kwinana Beach. These plants are tricky and the big bosses often want a quick fix to a complex puzzle.