Venn Brown Rpt 12-08-24, page-13

On this occasion I think that Wot has a point - look at what was in the content of the recent ASX update provided to the market - this is summarised in the following points in the Venn Brown report:

"The plant is performing as expected, proving the system:
- operates at commercial scale
- operates on a continuous basis; and
- achieving conversion and graphite purity targets approaching design limits."

Whilst all positive, quite rightly, some people criticized it on the basis of very limited detail.

Then we get this detail from an analyst report:

"Reduction of Levelised Cost of Hydrogen (LCOH)
Results from the CDP have provided more accurate performance data, allowing Hazer to model reactor performance and costs more accurately. Cost improvements are largely a result of learnings from the CDP and include:
• Lower capex and opex estimates
• Energy efficiency improvements, from the original 10-13kWh per 1kg of hydrogen down to 8-10kWh.
• Improved conversion rates
• Further improvements are expected from 2nd and 3rd generation reactors, which are under development
• Lifting graphite price estimates from $200 per ton to $400 per ton. Hazer reports that prices could range from $600 - $1,000 per ton."

How Hazer can consider that this is not market sensitive information and have it publicly disclosed outside of an ASX announcement beggars belief - this is fantastic news and of huge importance to people's perception of the technology and its competitiveness. Yet it's buried in an analyst report of an interview with GC and has not seen light of day anywhere else.