There is a fair whack of news to be expected within the next two...

There is a fair whack of news to be expected within the next two to three weeks based on the last announcement. I know I'm repeating myself and you would be well aware but just for the sake of a quick revisit:

1.0 "LMG expects to sign a binding MoU with this supplier within the next month. The major terms and conditions have already been agreed between the parties and is now awaiting Board approval."

*This is a big announcement regarding the 100,000tpa plant and surely will give some insight to the plants location.

2.0 "The PFS - A phase is expected to be completed by the end of August and will be presented

to potential partners. The full PFS (PFS-B phase) will be completed by the end of the year."

*It may be possible that some of information within Part A of the PFS could be announced to the market either in late August or early September. If not, at least an update of the PFS progress.

3.0 "LMG personnel will be attending the International Magnesium Association Conference in Barcelona

at the end of August."

*We may get some feedback from the conference.

"Final commercial terms are being finalised for the full award of the packages and this is anticipated early next month."

*August... (major procurement items, Spray Roaster and Reduction Furnace). Again, a very significant milestone for the project.

"The second $10M advance is due to be drawn by 1 September 2022."

*We saw an impact on the sp with the first tranche of $10m drawdown, we are likely to see a similar response imo.

On another note:

"The project team is also preparing the necessary documentation to provide to regulators as part of the commitments in its permit conditions, as part of its progression through the project."

*I would say these regulator permit conditions being prepared are for 2 essential upgrades:

1. Expansion of the EPA approval from 1000tpa to 10,000tpa plant capacity (Revised Environmental Impact Study)

2. Local Government approval of a 'Material change of use". (Change in Scale and Intensity from 1000tps to 10,000tpa production).

Even though Yallourn is not a regulator, there will also be a revised agreement with Yallourn for a larger supply agreement for the 10,000tpa plant. The need for the revision of the supply agreement was mentioned in an announcement last year.

Lots of reasons to be getting into those 0.5 increments after 10c.

Regards
Ken