Ann: Half Yearly Report and Accounts, page-80

Hi szopen

There is much concern and consternation on this thread at the moment. There is one section of the announcement which makes very clear what the company is focusing on right now. It is really quite simple.

"Outlook and Future Developments Looking forward, the Company’s primary focus will continue to be directed towards further advancing TGWP, through the following:
• Finalise ongoing discussions aimed at securing further binding offtake agreements;
• Finalise ongoing discussions aimed at securing debt financing of TGWP;
• Progress discussions aimed at securing potential investments by cornerstone or strategic investors
• Subject to securing the required funding and a final investment decision being made, progress with construction on TGWP; and,
• Continue exploration activities focused on prospects with complementary attributes to TGWP."

Sadly I had to wade through a lot of the report until I found what I was hoping would be there and it was there.

In my opinion Bob K. has transformed the company in less than a year and got a great focus on reshaping the product mix to improve profitability with products in demand now. He is doing all the sensible things required to take ADN into the mining stage. I believe that with another 6 months in the very important role that Bob is performing, we will be in a position to go mining - provided the offtake volumes are sufficient.

I understand that if we get the offtake agreements for our potential production capability, we are led to believe the funding will follow.

Until then it is simply a waiting game.

Given the progress made by Bob in the first year in the chair I think that he will deliver, it just takes time and we have a reasonable amount of cash to see us to that stage.

All IMHO and good luck to those who have stayed the course

Cheers W2