Ann: MEP: Great White Kaolin JV secures major Off-take deal, page-22

This is a great strategic partnership for ADN.

"In ongoing discussions, MSI have indicated that they have longer-term demand for additional quantities of both Great White PRM and CRM, which gives the joint venturers confidence regarding a strategy of construction of a modest upfront processing plant to be followed by an expansion of the plant to 500,000kpta feed rate full capacity within 2 years of first production. The signed offtake agreement includes a non-binding clause whereby both parties agree the intention is to increase transacted volumes of refined kaolin from the initial binding 70,000 tpa +/- 10% to an aspirational quantity of 150,000tpa 2 years following first production. This aspirational quantity aligns with the joint venturers expansion plans for the Project, with final negotiations to take place at a future date."