Ann: HPA First Project Update, page-6

"progressively advancing pricing discussions as product qualified test work completes"

Sounds like the logical progression of supply negotiations. Customers have been testing (in their own time) and have moved to commercial negotiations. Although this is a broad statement I get the feeling from the other supporting evidence (follow-on test orders, higher volume orders) that there is sufficient techincal success to progress to commercial discussions. I find this highly encouraging as I feel negotiations are less likely to fail due to commercials than technical testing, given my understanding of availability of alternatives. Of course scale up remains the key risk and this may be on the mind of potential buyers, i.e. what if the PPF product is different? (given there may not be a rush to lock anything in - although that could change quickly if the orderbook starts filling up...)

All IMO, please DYOR and GLTAH