Ann: Letter to Shareholders, page-34

Re agreements.............anything is possible of course...........but, "140 tonnes has been shipped to China for wet‐processing and additional dry‐processing trials during February 2019 with a large Chinese kaolin processor, with the resultant products to be sent to potential Chinese ceramic customers for commercial evaluation shortly thereafter"

So in relation to the refined ceramics product (which fetches $500-1000 per ton) maybe late Feb early March for an agreement, all depends on this "large processor" and when they get the shipment and how swiftly they move to completion etc)..........

As for the DSO? A binding off take for this aspect might drop at any old time, but I would say we might reasonably expect something after the wet/dry processing China results are 'in the bag'........If this "large Chinese kaolin processor" likes what they see in terms of our DSO and resultant product then we could see binding OT for this within the next 3-4 weeks imo (if things move smoothly).

We're reaching the pointy end here.............the thing about this is MEP had accumulated a 'large body of work' already on this project re its logistics and the possible products we might end up selling and so on i.e very little is an 'unknown' with this...........so a scoping study and mine design work etc should progress relatively quickly...........perhaps a good deal faster than most might think as a result of the significant work accomplished in the past.

"The Poochera Scoping Study work is scheduled for completion in the first half of the year, when the aim is to then move rapidly to Prefeasibility Stage by virtue of the very simple business model"..............2019 should be a very exciting year for ADN all things considered.