Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-12

I've been invested in FBR since around 2019 (around 7c mark) so a relative "newby" cf the 20 year followers. Fortunately avoiding the 2017/2018 peak and topping up later at lower prices to have a low average buy price. I understand FBR's "speed" having followed them very closely. Their vision for a future product was amazing and is now matched by fantastic technology. Also love the branding "Hadrian". I agree with your comments on "precise" cautious" etc. This is what gives me confidence in the Hadrian X.

FBR are in the last 200 metres of the 50km Olympic walk (would have used the marathon as an analogy ... but not appropriate for FBR ... haha ). They just need to push hard for the finish line to the signed JV. Not spent too much time stopping (multiple times) to check their shoe laces are done up. They have done this 3000 times so far and their laces are fine.

I'm in no doubt they will be a great success and just need to execute the final steps for JV.

I think apart from the initial SP jump if the JV is signed, it is going to be at least 5 years to see these shares really taking off. Primarily as the company's growth (& becoming cash flow positive) will be severely limited by the rate at which Hadrian X's can be manufactured. I am patient and can wait, just keen to start true commercial operations in US for Hadrian X.