Ann: Company Update, page-6

finalising JV aint just about the payments schedule...

to some degree, an additional negotiation or renegotiation is needed, after final metallurgical results are known and decision for best lowcost shortterm mining is known... cos this is the part that will provide cashflow to cover resource drillout costs, but this activity was not included in the initial JV agreement... so as far as i am concerned, no need to worry at all... it will probably take a few months...  metallurgical results... process flow and location for lowcost mining etc plus with additional negotiation to obviously include this in existing JV deal... potentially allowing tar to only initially fund the lowcost mining,then perhaps pay the 2mill JV cost from their net revenues as well as fully funding resource drillout etcetc....

so more negotiations required in line with final results on where and how for the lowcost mining..

as for offtake customers... was my understanding that hongze were the leader for this part... hence their investment,,,