Ann: Quarterly Activities Report and Appendix 5B, page-12

Hi Spendthrift,

Yes, but not for a while now as they have nothing new to discuss until after offtaker announced and FID.

When you speak to enough of these parties you learn how to read between the lines. In this case, they did mention the complexity between offtaker annonymity and ASX requirements.

IMPORTANTLY: They must have various parties on the go, business sensitive negotiations that they msut hold them all, for when they can legitimately negotiate. No chance and it would be crazy to expose thses parties now. Shareholders must be patient, that is obvious at this stage, as we need them all hanging and thinking they are in the run, that is how we go from a good deal to a great deal.

The offtaker will never finalise until complete de-risk which means FEED. That is standard protocol as they cannot destroy current supply arrangements of the potential offtaker, until they know for certainty there is new supply coming in 2.5 years.

They are awaiting FEED to confirm pricing for banks, the many items have to come together at once. i.e. the FEED conclusion will start the ball rolling.