Notes from Webinar today:General:A lot of focus on Nomgon,...

Notes from Webinar today:

General:
A lot of focus on Nomgon, Mongolia and China with Grandis being touched on a fair bit but not the main jewel.
Neil at the end "if you have questions, ask me" - anyone who has issues with their approach, email Neil.

Nomgon:

• Commerciality of Nomgon will result in conversion of exploration lease to production lease
• If they do sell electricity, it will likely be to the Government, not private companies
• Goal is not to be the seller of electricity, goal is to build reserve and introduce the right parties who will ultimately develop resource
• Lifting of Covid restrictions in China has now allowed for members of these parties to begin to travel and progress discussions for Nomgon T/O
• Appraisal wells in Yangir and Big Slope
• Clarke Energy - they're an engineer, not financier etc. A lot of experience in Australia. Offtake by Government is required, Government is slow to progress MOU to PPA but still in progress.
• Compressed Natural Gas option is probably much closer to market and faster to execute than PPA with Govt. and Clarke Energy power plant

Gobi H2:

• PFS for H2 supported decision to progress with SBE to Term Sheet
• China hosts 1/2 worlds steel production.
• FEED / H2 Binding International JV by mid-year (from my experience with Nomgon pilot production, "middle of year" = "September")
• Can't announce PFS results / details because of ASX restrictions however "it underpinned the decision by SBE (a $100B company) to progress to binding term sheet"
• Can be funded in various ways, Asian Development Bank / European Economic Development and Reconstruction Fund

Grandis:

• Engagement of the drilling company, land access being worked on (no binding agreement yet).
• Waiting to see what neighbours / "Shell" do
• "When we bring in a partner, it will show a level of validation" - WHEN, not IF