Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-107

I wholeheartedly concur with the post of Geeenius , regarding the securing of rare earths / titanium raw materials supply .
This was so much a flaw in David Woodall's time and strategy ,,,,Toongi development "delayed "again ,,,,to ensure ASM had tailor made long term feedstock !
Not until Jan this year ...did the button get pushed to get Hyundai underway with the Engineering . Yes , a difficult and costly task ,,,,,but you can't put a horse BEFORE A CART .....until you buy a horse !
Now we have to patiently await this ENGINEERING PROCESS to unfold ...all at a time where material costs , and eventually labour , are in a highly inflationary environment . We have to wait /hope that Government Agencies , or Govt supported industries from South Korea , Japan , USA and Europe ,,and eventuakky Australia get more desperate and more committed to support non China dependence on rfare earth raw materials and downstream products .
They will ,,but its the timing . So frustrating ( and poor business planning ) when you have cutting edge technology proving up to scaleable replication in the KMP in South Korea . Demand is one thing ,,, but commiting to long term commercial supply and long term Contracts , means you have to have the materials .
We can commit to "long term patience"for a Project that Offers great optimism ...but most have either growing families and growing Bills to pay ...or simply see "under performance investment = Opportunity cost ...and thus move money elsewhere .
Bell Potter supported the last capital raise at $1.73 . Not many happy campers in that Stable ,, and as a retail investor myself , I share the "unhappiness"( stronger words deleted!) by the wide spacing of Announcements on progress and lack of definitve detail ,
AIMHO