Ann: Trading Halt, page-106

Spoke to SFX after the announcement last week,reply below

Yes it is a great result to get to this point after a long journey. Its not easy to fund large mineral sands projects as a junior Company. There has been interest from other parties along the way, but none that have been prepared to take on the risk of fully funding the project (trade wars and global uncertainty hasn’t helped). Unfortunately mineral sands only interests a small pool of investors, however it is excellent to get an offtake consumer as a partner. Steps now are to obtain FIRB approval, finalise the BFS update for the project scope, sign off debt and contracts (targeting three months). Once complete that will further reduce project risk and we will the plan for start of construction, probably next dry season, then 18 months construction and 6 months commissioning. This is a long game not a sprint.

Onward and upwards