Ann: Quarterly Report to 31 March 2018, page-4

Just to recap. More than 12 months ago they reported

"Commencing in late March 2017, the program will produce at least 5 tonnes of reduced iron/zinc oxide pellets for processing into the zinc and iron products at a commercial foundry"

RabbitTrap reported from the AGM.

“It was also confirmed that the current process is locked in stone, there will be no further tickering or changes until the plant is finished.”

From the December quarterly.

The program entails processing at least 20 tonnes of iron oxide/zinc oxide-rich furnace dusts and SPL through the four process steps; Evaporation (EVAP), Pyrohydrolysis (PYRO), Fluid Bed Pre-Reduction (FBPR) and an Electric Induction Furnace (EIF). The recent investment agreement with Bergen ensures the testwork program will be undertaken during the first half of 2018.

“The PYRO and FBPR stages will use the same fluid bed roaster operated sequentially. An existing roaster is being modified for these dual duties and fabrication of the long lead time item, the refractory-lined lower body and plenum, is underway and it will be delivered to the Newcastle plant in April 2018. Other shorter lead time items, such as the refractory-lined roaster cap and off-gas ductwork for the roaster, are either in the final design stage or are being ordered.
Installation and commissioning of the roaster is expected to take 4 weeks, following which temporary staff will be hired for the continuous production run for each process stage. Products from each stage will be stored until required for the next stage’s production run. The FBPR production run, the third process stage, is scheduled to be completed by June 2018 and the aim is to produce at least 5 tonnes of pre-reduced iron oxide/zinc oxide pellets for testing in an EIF.”

So for more than 12 months they have been working on completing the plant and just 3 months ago everything was said to be on target to complete this Qty. Now we get.

“Management is currently reviewing the plans for the test program to significantly reduce the cost and time of the original program by modifying existing equipment and still achieve the objective of demonstrating the four ZIRP process steps. This will now produce sufficient samples of pig iron and zinc oxide for market evaluation, rather than the larger tonnages previously envisaged.”

When is Management going to publish the next plan?????