Funding pure play mines with no vertical integration is...

Funding pure play mines with no vertical integration is difficult.

As long as the prices remain flat, the economic case, even with a tier 1 resource, is difficult to justify.

China's stranglehold on the sector will not relent, as a matter of fact, it is tightening and getting worse.

You need to be independant of China.

You need to be aligned closely with a western market, western defence and western supply chain.

You need to be vertically integrated.

You need to be able to process oxides independant of a mine.

You need robust ESG credentials.

We have all of these....but we just need to get through this orphan period and pivot to commercialisation.

I know they are pushing for funding and finance to get this done...and the APC seems to be our best shot here