Once again, the professionalism and execution of this project by...

Once again, the professionalism and execution of this project by Francis and team on full display providing a clear timeline on the status of project financing and demonstrating the significant traction they have achieved with tier 1 counterparties.

In an ideal world, it would have been good to see the outcomes of the public grant funding they have applied for prior to Q4, but we all know that is due to how slow the wheels of the EU have been to play catch up to the IRA in the US.

Many aspiring junior mining/resource companies often trip over when they are faced with a significant capex build relative to their market capitalisation, but this update clearly demonstrates this will not be an issue for Vulcan. The company's outreach strategy to all levels of local, State and EU Gov't officials visiting the site and recent examples of showcasing the technology to interested members of the community has been incredibly well done. This engagement will position the project to very likely be classified as 'strategic', attract grant funding and pave the way for future expansions along the Rhine into France and possibly Italy one day.