It has been a while since posting and with the current timing...

It has been a while since posting and with the current timing for the uDFS I feel it may be good to mention a point I found out after the announcement in August-22 regarding the 'Starter Plant' which frustrated and peeved so many people.

After the announcement I had a personal phone call with Patrick Sinclair and voiced my concerns regarding the 'Long Lead items' and the time delays that could occur purchasing further LLI's when the next stage was announced.

I asked what the capacity for the ordered long lead items was in relation to the plant and was informed that they were suitable for a 200,000tpa processing plant, and that the short term, off the shelf items were the items required to expand the plant as additional stages were added based on offtake agreements.

I expressed quite strongly that this information should have been clear in the announcement and more clarity around the philosophy change that blind-sided investors.

In essence what I received in information from the call, and I am only relaying my understanding, was:

1. that the ordered long lead items would allow a processing ability of 200,000tpa.
2. the 'starter plant' was based on the current agreements at the time,
3. and the reasoning behind starter plant was to reduce the money on items that could be purchased and received in a short timeframe as further agreements were signed. As the plant is considered modular to an extent, and the short time-frame order equipment is predominantly off the shelf, the ramp-up could be achieved in relatively short timeframes.

As mentioned, this is what I understood from the conversation and believe that this should have been conveyed clearly in the announcement originally, and after a further 1-on-1 discussion with Patrick last week, expressed my opinions on how these details need to be presented clearly when making significant price sensitive announcements. I think many are in agreeance that the 'investor relations manager' could improve their investor relations.