Ann: Progress Update - McIntosh & WAH2 Hydrogen Projects, page-7

Companies need a Strategic Competitive Advantage to survive and pay dividends. Can anyone explain what the SCA for HXG in H is?

They have no gas, no infrastructure, no offtake, no IP, no CCS, no MD and no experience. If it was as easy as they think, wouldn't every punter with a gas reserve be touting a Carbon Neutral H strategy. At least if they had a gas reserve they could guarantee the supply cost.

I am amazed that after Pedirka they are still going down this rabbit hole. They burnt through approx $10m on a really badly researched idea. If they continue down the H path how will they compete against someone with IP, gas, CCS and experience?

How much cash do you think they have left? At what price will the next raise be?

I genuinely feel sorry for value destruction that has been caused here over the last few years. They could have stuck to their knitting and spent the $10m progressing other assets or buying something with more promise. GLTAH