Ann: Strategic MOU with Mitsubishi Corporation, page-169

In this morning's Australian newspaper, columnist Valerina Changarathil has penned an article on Chalice's announcement and trading yesterday:

"Investors in potential takeover target Chalice Mining may be running out of patience as the quest for a supportive partner for its promising Gonneville platinum-nickel project in W.A. gets extended to at least the middle of next year.
"Chalice shares plunged 19.5 % to $1.22 on Wednesday making the stock the worst performer on the All Ordinaries index.
"The company, which counts prominent businessman Timothy Goyder as a significant shareholder with a 10.4% stake on Wednesday named Mitsubishi Corporation as a potential partner after 12 months of "extensive due diligence and discussions". Formal talks are now underway for a potential deal within 90 days of the completion of its ongoing project pre-feasability study, scheduled for completion by this time next year.
"Chalice and Mitsubishi have entered into a non-binding memorandum of understanding which establishes a general framework for collaboration on technical, financing, marketing and offtake aspects of the project during the ongoing PFS.
"It enables the parties to work jointly to refine the scope of the project prior to working out a potential joint arrangement and investment partnership.
"In the meantime, Chalice told investors it was fully funded to complete the PFS.
"It has taken Chalice months to get to this stage, after major miners Rio Tinto, South 32 and Anglo American appeared to pull out of partial or complete takeover of the group, which had also received approaches from large and mid-cap Australian miners in August last year..
"Chalice's major greenfield discovery in early 2020 hosts a mix of critical green metals required for decarbonisation including nickel, copper, cobalt, palladium and platinum. Chalices chief executive Alex Dorsch said Mitsubishi's involvement in the Gonneville project follows extensive due diligence and discussions over the past 12 months. 'We are excited to work together over the next phase of project studies towards delivery of the PFS in mid-2025 and a targeted final investment decision in late 2026'he said.
"Mitsubishi executive Kot Ikenshi said Gonneville 'has the potential to become a large-scale, globally significant critical minerals asset, and its US IRA-qualifying suite of metals could have a strategic importance for Japan in the future'"

Sorry for any typo's

MM