Where Are We At?, page-16

I'd say POW are doing extremely little at the moment. Given the cashflow reports I'd say there are no direct employees. There are no executives, no mention of a CFO, the calls go to what I presume is the rent a receptionist style set up who is there basically to forward calls, messages, emails, etc to Matthew Foy or other members of the board.

The joint venture agreement with KORID Energy and MLD originated back in September 2019 with an announcement by MLD's parent company MGX Minerals and KORID's part owner DST Co Ltd. It took from late September 2019 until last Friday for POW to finally announce it to the market.

The review of the application for the Daejon excavation licence was originally due to be completed in late June 2019, it took until September for POW to give us an update, which was to say that the review was then expected to be completed by 31/1/2020. Still no update on that and the company did not know when I spoke to them the other day.