Ann: MoU for Supply of Briquettes , page-41

My money is on debt funding and welcoming a large Asia based cornerstone investor to strengthen register.

What people have to understand is the definition of PFS (Australia) and PFS (Mongolia) differ considerably!

MOU have to word their market updates delicately. They have a tough job but we have the right team on the ground.

Steps IMO:

1: negotiation of off take terms are well underway

2: once complete PFS (Mongolia) and financing can be finalised

2: two pronged development approach (catch 22) where do we start first?

The mine resource will feed the briquettes plant? IMO we need to mine the resource in order to feed the plant! That makes sence, right? Depending on plant funding and construction time it may be possible to construct both at the same time.

MOU is in a unique position because we will be the only prefered briquette supplier for Mongolia that owns it own resource! This puts us in a very good position indeed.

The briquette plant is not the company maker by far, our resource is! The technology is not unique by far and MOU are in discussions with several companies regarding the plant, I understand.

This why relinquishing an part of our resource (JV) for the plant is ludicrous to say the least.

Anyway, do your own research, what would I know :-) this is just my thoughts :-)