General Discussion, page-14

You would think with what the items in the list below and what NRZ has achieved raising 100m wouldn't be a problem, but it seems so.

NRZ crap raise of 3.76m in Oct 22 and 0.5m from EECP this month (not sure if that was NRZ call).

Management keep saying they have offers and wants what best for shareholders, but its feel like they just can close the deal on funding.

Anyway with their burn rate we will find out soon.

• Australian Government grants R&D Advance Finding - spend $70m get a cash rebate of $30m.
• Have the IBFS
• Have Government Support.
• DL E&C Co 9% stake and $1.5 billion Binding Offtake agreement
• Letter of support from Bank (tied to DL E&C Co)
• Generators on site and can't see EIS as an issue.