Hazer have a current undiluted MC of $23.4m ($0.265* 88.3m SOI)...

Hazer have a current undiluted MC of $23.4m ($0.265* 88.3m SOI) with cash of $7m giving a current EV of $16.4m, pretty light for a technology company who are tackling a market worth well north of $100b.

To date the PPP plat has proven that each element of the process can be successfully scaled. Process modelling has shown that the process economics are far superior to other hydrogen production methods.

Customer/stakeholders have via MIN and Primetals demonstrated that they too see a future with the Hazer process. It's a good time to sum up the initial reasons we invested here and ask what has changed, while not dismissing the movements within the management team as irrelevant my thoughts are that these moves have spooked the market, meanwhile the tech and it's backers keep kicking goals..

Over the remainder of the year there are several news flow items that can be anticipated, most of which are undoubtedly positive

- New CEO appointment
- MIN pilot plant built
- HZR PPP2 and location news
- Primetals MOU expansion
- Expanded battery results
- Other graphite verticals
- New commercial/partnership agreements ?
- Royalty figures ?
- Patent filing updates ?

All in all there Hazer are more advanced than ever on many fronts yet the SP is at one of it's lowest points. The majority of the anticipated news flow is positive which to me puts us in one of the lowest risk positions we have seen since inception.