Ann: Trading Halt, page-76

I looked at wholesale prices in China - Alibaba. Not necessarily accurate. They very often post enticing prices and encourage people to then negotiate. But wholesale price was published at US$50 for high grade. ASM are negotiating to sell wholesale to a company which then sells high quality for 3D printing online. It is clearly going to be a wholesale price for a contract of that size.

Less transport and with advantages of government incentives to buy locally and energy efficient - should be better than Chinese price.

Prices are very depressed at the moment though so these prices are worst case. China has excess stock at the moment because of COVID. No aircraft being manufactured at the moment!!

When I look at this stage of development of a company I think it wise to take the lowest possible outcome and plan to that. In the case of ASM it is still very good.

Cheers - Joinoz