Ann: LMG awards pre-feasibility study for 100,000 tpa plant, page-57

"This presentation will explain the new Al thermic process at Mg extraction"

It is interesting as another method of Mg extraction apart from the Pidgeon process and as I said, one that LMG could have followed with their own methodology if there was the opportunity.

The scalability plan is fairly well established imo. "So far it looks to be only the royalty stream from the licensing of use of the tech and the local 10,000 tpa plant".

1000tpa, +10,000tpa, 1st joint venture for 100,000tpa and then further expansion in JV's as well as royalties does not sound like licencing only at all. Fly ash & ferro nickel slag from mega firms that could very easily joint venture or pay significant royalties and become vertically integrated.

LMG have well detailed this scaled expansion and their strategies. Scope for Germany, South East Asia and even America +? Before Germany went tits-up there was a fairly clear plan for a partnership. David Patterson said they will revisit Germany as a proposal further down the line in one of my discussions with him.

There is no doubt a plethora of information we are not privy to and may never know as 'commercial in confidence'.

It is early days and a penny stock at that! Fortunes can tern on a dime. The first demonstration plant is in construction and the pieces are coming together, step by step. There is a heck of alot more to be presented and only time will tell.