Ann: Investor Presentation - March 2021, page-24

They have done Stage 1's production line from scratch in 10 months (!).

The presentation clearly says Stage 2 (x3 production, not just x2 production) commissioned by February 2022. This to me equates that the additional two lines project kicks off in April 2021 at the latest (10 month completion again, which, believe me, is record timing).

Whether they need to CR for equipment orders.... probably they wont need to as the Stage 1 cash could flow in monthly into paying for the upgrades' costs. There is a possibility that they raise a bit but they have been trying hard to avoid dilution to date.

What is appealing to me is that the Stage 1 + Stage 2 will turbocharge the Stage 3 (in their own words....!) That's when we change from the steam engine to a bullet train. And CR, debt, off-take partner placement will then come to play for the big mama "green" project.

Isn't it ironic that we are shifting to electric motors but still talking in combustion engines language, i.e. "turbo chargers"...