Ann: Quarterly Activities Report, page-3

Yep............nothing unexpected imo...........a few points of interest re HPA............"metallurgical testing of Carey’s Well halloysite‐kaolin from the Poochera Project previously gave an Al2O3 purity of 99.9946% with only a single stage of purification, indicating only 53.64 ppm of impurities remain. This high purity testing is at the detection limits of Australian commercial laboratory equipment".

"Further testing was conducted to confirm that the single stage purification result was repeatable, and to also determine if even higher levels of purity were possible. This was completed and indicated that producing 4N HPA from a single stage purification process is achievable when using Carey’s Well halloysite‐kaolin as a feed"...........

So 5N not mentioned here........still plugging away at that I hope....... regardless repeating and 'confirming' the single stage 4N production is no small thing.

Seems they've budgeted a relatively small spend for Q1 ($400K) and might be looking to sign some binding OT's before another cap raise perhaps...............so I'd hazard it's a better than 50/50 chance they look to raise Q1...........will definitely need to raise early Q2 at the latest I would think.