You wrote seven potentially price-lifting updates were due in...

You wrote seven potentially price-lifting updates were due in the next six months ?
1 - Release of the ore reserve upgrade for Yarrabubba
2 - EPA and native title signoff
3 - The TMT bankable model showing opex and capex figures
4 - A number of binding offtakes converted from MOUs
5 - Potential Project investment
6 - Funding Partner term sheets EKF, NAIF and other export credit agencies.
7 - Study released for electrolyte production from LE systems and potential VRFB offtakes for Vlyte.


Plus that $1.4m tax rebate ?
And you forgot to mention the Independent Expert’s Review which is due and which has been repeatedly mentioned as a necessary precursor to confirm your points 1, 3, 4, 5 and 6?
(Leaving only the EPA as not completely dependent on the results of this review? ).

Troy, do you have foreknowledge of the contents of this review please?

If not have you any realistic anticipations around Point 3 - the bankable model inclusive of current capex and opex (which you have perhaps shared with others who also feel they are being taken advantage of)?



Importantly in regards Point 4 - ‘memorandums of understanding getting converted to offtake agreements’ - I presume you mean TATA steel.
That memorandum was signed about a year ago on October 22.
Since then TATA has been in somewhat of an upheaval with multiple mergers (seven!) with subsidiaries underway; https://economictimes.indiatimes.co...o-narendran/articleshow/97836327.cms?from=mdr
Are you able to confirm that MOU is still relevant?
Have you any idea of the prices TATA steel would have wanted to confirm with TMT (if the memorandum is still active) given the current plight of vanadium prices?
Also any idea of the period for which it would wish to secure an offtake agreement ?

What other binding offtakes did you anticipate please. (you wrote there was a number of them)
Delektric in India ? You expected a binding offtake ?
For how long and at what price please?

I can’t find any others beyond a MOU to undertake a feasibility study with LESystems at some point?

re Point 5 - which investors would potentially fund the project?
Did you expect TMT to borrow from them or give them part ownership in exchange for funds?

Re Point 6 - the TMT lawyers seem to think there’s a better chance of funding as a combined entity.
How much were you expecting for TMT on its own please?

Point 7 - as I mentioned is an MOU to undertake a feasibility study with LE systems?
What value do you ascribe to any news such a study has commenced please.

cheers