general discussion, page-914

I had to reformat this post as it went berko..lol
.Consistency begets Confidence.

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Even though we are only at the demonstration phase of the LMG project and have a number of milestones to progress through, I have some thoughts looking forward. There has been a change in language many times over the years and also, as is to be expected when developing a project, the goal posts have changed. Nevertheless, there are questions that have been left as pregnant pause and I want to know more due to the expectation of delivery. I think it prudent to want to know more.
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Again, I only write this as there is little to be said until we are provided witha project update on achieving installation and commissioning of the new plantand equipment. Until then there is only news on the magnesium market and its ongoing volatility, so why not think out loud.

I am looking forward to the future,beyond the demonstration plant, beyond the 10,000tpa plant, to when we can getvery serious about being a global contender with extremely serious GHG, C02 andfull utilisation credentials.
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My post is long and I hope to be ofuse, otherwise please disregard it and move on.

It is incumbent upon every company toperform their due diligence, so too it is the case for any investor if theywish to be wise.
Please follow my process as best you can, it is not easy intext to draw out my questions without being way too lengthy.

RWE (Rheinisch-WestfälischeElektrizitätswerk) have been significant in my mind as I jumped to the 100,000tpa plant and wanted to see who were to be potentially be involved in the LMGproject. LMG signed a term sheet with RWE in 2018.
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RWE, who arethey?

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RWE AG is a German multinational energy company headquartered in Essen (Germany). It generates and trades electricity in Asia-Pacific, Europe and the United States. The company is the world's number two in offshore wind power and Europe's thir dlargest in renewable energy. In the 2020 Forbes Global 2000, RWE Group was ranked as the 297th -largest public company in the world.

Products Electricity

Revenue€13.125 billion (2019)

Operating income€1.267 billion (2019)

Net income€1.210 billion (2019)

Total assets€39.846 billion (2019)

Total equity€5.738 billion (2019)

Number of employees19,792 (2019)

Website www.group.rwe/en

From the RWEwebsite:

“RWE’s expertise is in demand all over the world. In the most interesting as well as the most out-of-the-way countries on Earth, plant operators, developers, investors and business partners benefit from our specialists’ decades of expertise. RWE offers high-quality, tailored technical solutions around powerplants, mining, energy infrastructure and energy trading. With our planning and other services, we help our partners to optimise the profitability of their plants and projects.”
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Also…

“ESSEN, Nov 15 (Reuters) - RWE (RWEG.DE) plans to invest 50 billion euros ($57 billion) through 2030 to double its green energy capacity to 50 gigawatts (GW), as Germany's largest power producer outlined its plan to become a global renewables heavyweight.”

https://www.reuters.com/business/sustainable-business/rwe-spend-57-billion-through-2030-green-power-push-2021-11-15/
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OK, so now we know a little more about RWE. There is no doubt RWE would be an exceptional link with their renewable energy, solar, wind, hydroand nuclear power. RWE also have an incredible amount of knowledge and experience in project development.
I went through the last 4 years of AGM reports and Investor presentations and have picked out the following to show a change.
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2018 LMG AGM Presentation

Latrobe Magnesium Limited (LMG) signed a term sheet with RWE Power AG for the development of a new magnesium plant in Germany, with up to 30,000 tpa of production. The magnesium will come from brown coal fly ash from coal mined at RWE’s Hambach mine and processed through their supercritical brown coal power station near Cologne, Germany.
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And…

2019 LMG Annual Report

“RWE Power AG and LMG have identified the brown coal fly ash from RWE’s Hambach mine as being the most suitable to commercially extract magnesium.”
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And then…

2020 LMG Investment Presentation December

“LMG have a number of opportunities to license their IP to various brown coal (RWE Power & EP Coal) and ferro nickel producers worldwide.”(N.B.: Not brown coal fly ash anymore but ferro nickel slag)
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What is ferronickel slag?

“Ferronickel slag is an industrial by-product obtained after nickel ore and bituminous coa l are melted at high temperatures and thereafter separated from ferronickel”(Google search lol). It is Not from brown coal fly ash!
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Andagain…

2021 LMG Investor Presentation December

"It will also be looking to complete a prefeasibility study on a 100,000 tpa plant using ferro nickel slag as its feedstock."

“The surplus working capital of $2M will be used to assist with the funding of the feasibility studies for the 10,000 tpa plant in the Latrobe Valley and the 100,000 tpa plant overseas.”(N.B.: Overseas, not mentioning Germany any longer?)
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2022 LMG AGM Presentation January

“LMGannounces plans for 100,000tpa plant LMG announces it will complete aprefeasibilitystudy on a 100,000 tpa magnesium plant usingferro nickel slag as its feedstock in 2022 to supply the growing magnesium market. The plant will be located next to a renewable energy facility.” (N.B.: No mention of fly ash, Germany or RWE?)
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After reading RWE's web site extensively, I fail to find anyreference to ‘ferro nickel slag’.

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Question 1. I understand that ferro nickel slag ispreferred to fly ash as it is more efficient in reducing Co2 and energyconsumption. As the feed stock for the 100,00tpa plant has changed and RWE arepower producers using brown coal, are RWE still part of the project?
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Question 2. If RWE are still part of the 100,000tpa plantin Germany, who is supplying the ferro nickel slag and has the term sheet from 2018 been amended?
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Question 3. If RWE are no longer part of the 100,000tpaplant, is the project still proposed for Germany? If not Germany, where?
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Question 4. Why has the scope for the 100,000tpa plant,its feedstock, location, potential partners not been clearly communicated tothe market as an update for the sake of invoking ‘confidence from consistency’?
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If anyone can clarify these questions, I would greatly appreciate it. If not, I will send this post as an email to LMG.
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Regards

Ken