Ann: OHD Trials Continue to Excel, page-241

Hi All,

Appreciate all the positive light people are trying to shed on this announcement.

Can I ask those with more knowledge in this area than I, when we eventually see the PFS which I imagine won't be in this quarter but some time in July, how long does it generally take for the market to react and enter negotiations with potential partners? My understanding is a partnership will need to take place (we MIGHT see this by the end of 2017) followed by construction of a pilot plant which will need to run for... [how long?]... before the product is proved viable (or otherwise) and then any commercial scale production would need yet again another round of partner negotiations?

So in my mind, if the pilot goes ahead we are talking late 2017 by agreement and mid-late 2018 by the time the plant is actually constructed (This might see a slight increase to the SP and restore some confidence in the product) and then some time in 2019 before the product is proved (again, or otherwise) to be commercially viable and hits the market?

Are these timelines remotely fair or am I way off the mark and missing key steps all together?

Appreciate any views others are able to offer