Ann: Full Year Statutory Accounts - 2019/20, page-2

Holy...!


"During 2018 and 2019 metallurgical process testing was carried out by independent chemical engineers, which proved that the Carey’s Well mineral could be used to consistently produce 99.99% (4N) purity HPA with only one stage of purification. This proved that it offers significant opportunities for cost savings in the HPA manufacturing process, as well as the ability to produce higher value end product. Collaborative opportunities were considered during 2020 with one company being identified to progress further with. That has led to more metallurgical testing being done at Queensland University of Technology during 2020, which validated the process and increased the purity of the potential HPA product. Negotiations are now in progress regarding a commercial agreement."