Ann: Presentation - Diggers & Dealers Mining Forum - August 2022, page-21

There were some very interesting statements:

- Samples of battery grade manganese sulphate have been sent to various car/battery manufacturers

- It is expected that there will be various (i.e. several) purchase agreements in the coming months

- DFS will be released in September/October

- first site for battery plant will be Malaysia; further locations in the USA, UK and Europe are to follow

Current price action is disappointing, at least for those investors who bought at much higher prices. It's because the current ore business isn't profitable yet. For this purpose it would be stated that the system was expanded with various components and that a total of 820,000 AUD was invested. Installation is expected to take place in September. Hopefully by the end of the year the throughput will be higher and the quality of the ore will be higher due to the improvements to the plant. If this is the case and the current ore business becomes profitable, there should be a lot of price fantasy here and the high prices from 2021 should be reached again - at least I hope so!