Ann: Funding Round for Green Pig Iron Project in Saudi Arabia, page-159

ill believe it when i see it, there wasnt too much around having secured anything as of yet, but if it does all start to fall into place, none of us are going to be complaining on "hot gossip" and we wont have to speculate on whats going on. All in all it sounds very promising if you take it at face value.

what I see as the important bits

"So Mitsubishi have asked for a large sample of concentrate for testing before they issue an agreement, and Anglo has actually shown us a draft agreement that we're comfortable with. So we're preparing the concentrate now, the sample. And then it's up to their respective internal systems to finalise the agreements".

"We're in discussion with two potential investors in Saudi. I've been here this week talking to them. They've both expressed interest in investing $200M to $400M in the Pig Iron project. However, today no investors have expressed interest in investing in the mine".

"So far the response from investors has been positive for all three projects, with the Pig Iron plant receiving the strongest interest. We will inform the market of any material developments, positive or negative."

"Yes, as I said we’re talking to two potential investors in the Pig Iron projects and working capital is planned to be raised as a part of this. Midmetal will then sign offtake agreements with our Biochar production partners and with our Iron Ore mine when required."

"They’re doing great work for us. And I said, we expect to have an announcement soon, and then the next milestone is to get the BFS for the first plant. And that should happen over the next few months."