Ann: Pre-Feasibility Study Commenced for Downstream Component, page-8

Pre Feasibility studies can only occur after a positive Scoping Study

Ok sure, but the scoping study was completed over a year ago now. I guess the timeline now looks something like this:

Scoping study ✅
(take a break for a year) ✅
Pre-feasibility study - upstream
Pre-feasibility study - downstream
Feasibility study - upstream
Feasibility study - downstream
(Raise finance for FEED)
Front-end engineering design (FEED)
(Raise finance for project execution)
(Finalise contracts with hydrogen buyers)
(Final investment decision milestone)
Detail Design
Procurement
Construction
Commissioning
Start-up