" [ Binding term sheet signed with Yantai Jinyuan Mining...

• " [ Binding term sheet signed with Yantai Jinyuan Mining Machinery Co., Ltd
• Build-Operate Transfer (BOT) agreement for construction of a lithium processing facility at site
• Subject to Ardiden exercising option and aftering defining a 1Mt JORC Mineral Resource at Seymour Lake in 2017, Yantai will be responsible for the following:
  • Design, build, operate and transfer a lithium concentrate processing facility for Seymour Lake
  • Provide 50% of the project funding
  • Either directly enter into, or facilitate the signing of, a 5-year off-take agreement for up to 5,000tpa of lithium concentrate product from Seymour Lake
• Yantai is a highly experienced market leader in the production of mining and pressing equipment, both in China and abroad ]"

Page 18 of the preso... the elephant in the room being ignored by many here but weighing heavily on the sp never the less ....
A Binding term sheet that has Yantai willing to put $$'s into it.. IF! ADV could define 1 Mt . well they couldn't, so without that 1 Mt being defined last year .... what is the term sheet's status ???????????????????????????

How on earth can they expect investors to back this project when the basic qualifying terms for the BOT failed ?