Another one in trouble, page-6

Fair enough, but if you had read between the lines, you will also see they have strategic partnerships with Masan (Vietnam) who own German wholesaler distributor - HC Starke and a large investment in Nyobolt (UK tungsten EV battery). They signed a MOU with European Raw Materials Alliance (ERMA) which indicated acquisitions as part of the announcement.

They have a German JV with Cronimet.

In the last 12 months, the Australian Govt have signed critical metals agreements with UK, US, Germany and Vietnam (do you see a pattern).

I think the other piece of the puzzle is Oaktree after throwing money at Saloro couldn't get the recoveries. (others, had the same problem including SEI in 2012).

However, Kevin and team have been able to bring their technical knowledge to improve the recoveries and production. So, after a tungsten parade, Oaktree selected us and have committed more money into building a truly global player.

As I have said before, I don't think this is the end of the journey.