Ann: Operational Update - 21 February 2025, page-25

Thank you once again for your remarkably well informed and expressed presentation of the sequence of events. I am sure that you are correct in your facts, and your analysis of those facts. It could well be that no other path other than this one was possible. Allow me to explain my more jaundiced point of view. My recollections are those of an old man now, I confess.
When I bought shares in Silex over twenty years ago and later attended an AGM at the Pullman in Circular Quay, nothing that I read or heard indicated to me that the technology was anything other than a done deal and was presented as being light years ahead of anything else around. I noted recently that the presentations then were in fact remarkably similar in part to what is presented today as to the Silex technology's place in the scheme of things. There wasn't any indication that two decades later we would be still hoping that it works! I recall (however imperfectly, hopefully it was at that meeting not a later one) at that AGM indeed questions were asked about how Paducah fitted into the scheme of things as regards timescale etc so clearly, I was not alone in believing, or being led to believe, that Silex had a proven technology. Let us recall that MG was earning, between $1M and $400K per year, and that was dollars of twenty years ago! And we are still talking about Paducah! I asked a question about the disposal of radioactive waste and the response was dismissive and unhelpful. As I became disillusioned with the lack of progress (ably explained by your goodself), and horrified to see MG out in the Arabian desert or somewhere playing with salt moderated solar, and being unimpressed by the BoD (once again, as I recall, Chris Wilks was the only practical person on board. I felt that the lady chairman (quickly renamed chairperson) had administrative rather than hard-headed practical experience) I approached several large shareholders to see if this path could be stopped. I felt that they had written off their investments and were looking forward elsewhere. So you can see where I am coming from.
It could well be that those wasted years were unavoidable, but at that time at least i was not persuaded. And now we race to catch up.
So I do not rebut any of your input, and I am grateful for it. But I still remain, unfortunately, a grumpy old man