Ann: US$14m Loan Facility Approved & Firm Bids for Placement, page-643

The original MOU with Carrinho was to supply the 2023/24 growing season. We have conducted many field trials and I think it's fair to assume any required trials would have been done to meet that original time line. Our latest field trial results were released in January this year. The results have always been positive.

Under the new Presidential decree having a firm offtake becomes a moot point because they have no choice but to buy internally and Minbos will be the only internal supplier. Yes I know it's a CP, as HongFang said it shouldn't be too hard to organise. Then there's the S African customer(s) looking for > 200kt per annum, Lindsay alluded that a deal might be close in the recent video. That would surely satisfy that CP.

As for the Quarterly, technically they are just a summary of what happened in the past Quarter, many CEOs do use the opportunity to update to the current date. It was only 2 weeks ago they announced the Cap Raise & the IDC loan, I don't expect too much to have happened since then. What will be interesting is their cash balance as at 31/3/24, they've since raised $6m, Lindsay said that was all being used for capex, so you'd like to think they have enough working capital to see them through.