Gotta say, over the past few months, I’ve been a bit...

Gotta say, over the past few months, I’ve been a bit disappointed with the lack of news flow. My concerns have mostly been around the slow progress not just on the Wonarah Project, but also Hebang’s $800M Indonesian project—no updates since August 2023. Many of us have been thinking the progress of these two projects could be connected.

That said, today’s announcement gave me a bit more confidence, even if there’s not much in the way of solid outcomes yet.

"We wish him every success in his new role with Hebang’s expansion efforts in Indonesia and look forward to continuing our collaboration in the future."

• $800M Investment: Hebang’s decision to change the AEV chairman after just a month likely means there must be some big progress happening behind the scenes. It wouldn’t make sense otherwise.

"Ms Yuan has been a Board Secretary and Board member of various Hebang companies over the past 10 years.....her proven leadership in overseeing key strategic investments...…"

• New Chairman: The incoming chairman seems to have been more involved in higher-level management within Hebang Group, represents a significant and strategic enhancement. This change should bring stronger leadership and improved funding opportunities.

"I am committed to exploring early pathways to revenue generation that will deliver long-term value to all our shareholders."

• Revenue Focus: The new chairman's statement highlights Hebang’s strategic focus on revenue generation. This is precisely what AEV needs, particularly as we advance towards developing the multi-million-dollar YP project.

Not the big news we were waiting for, but it gives me some optimism about what’s ahead.

GLA