Ann: FYI & ALCOA SIGN BINDING JV TERM SHEET FOR FYI HPA PROJECT, page-278

Hi TCB,

Yes why would you invest in a company that is in development, has completed a BFS and had two banks confirm their willingness to invest in the project. If you are interested in HPA graphite/silicon coating, they are working with 2 significant European companies and have entered into NDA with two top German auto manufactures. There asset backing is very close to their MC.

Instead you can ramp on FYI telling everyone FYI might build a production facility in 2024 after they have completed 2 additional pilot plants, depending on the out come of the pilot plants they maybe able to secure offtake agreements and may build a commercial production facility of 10k tpa. If you believe everything you read on here, FYI wont just be building one, they will be popping up all over the globe.

Did you notice FYI didn't even mention the size of commercial production facility they only mentioned the investment? It could mean the size is still up in the air, depending on the level of offtakes the production facility could be significantly smaller than the DFS size, which means all the comments of FYI's current MC's is based on something that might never happen.