Totally agreed. So much waffle from previous...

Totally agreed. So much waffle from previous presentations/releases. They took three pages to tell us:

- Several hybrid methods of automating fabrication of Energy Ink trialled and the most promising was selected for an expanded trial due for completion in Q1 2025

- Working on funding and IP sharing agreement in relation to Australian Research Council ITTC's Automated Vehicles $1.9m program awarded in 2024 and runs until 2029.

- Since the AGM on 13/11/2024 Stealth has signed an MOU with an Australian Mining Company.

The MOU is to "enable the Parties to explore opportunities to work together for the purpose of Stealth advancing the development of the technology for application in an underground gold mining operation and for the Mining Company to evaluate and trial the technology in their underground mining operations, with a view to the Parties determining an appropriate Mine Efficiency Solution and negotiating and executing a potential Definitive Agreement or other potential licence or commercial arrangement for a Mine Efficiency Solution".

During Q1, 2025 the Parties propose to conduct site visits to operating mines to a) test and refine the technologyb) determine how the technology could be integrated into operations, and (c) to develop a roadmap to implementthe technology at one or more underground mines.

The Parties have agreed to work towards the following key deliverables by such timeframes as may be agreed inwriting between the Parties. Deliverables are: i) completion of initial technology tests; ii) discussion andagreement on costs to conduct a pilot trial; and iii) implementation of the technology through a pilot trial. Due tothe non-binding and pre-revenue nature of the MOU agreement it is currently deemed to be non-material.


NOTE: They only included that last sentence to cover themselves as to why the signing of the MOU was not announced to the market separately. It almost reads like a "oh we forgot to tell you, we signed an MOU but it doesn't matter because it's not material".

RE: Energy Ink, that it has taken this long and we are only being told in the quarterly does not give strong hopes for the attempts to automate fabrication. Again, it reads like "we've tried everything but this was the only one that didn't totally suck so we'll give it the hail Mary treatment and hope something comes of it".