Ann: Suspension from Official Quotation , page-11

I know in & out about arccon epc contracts based on MOU with NFC to provide finance. If the finance doesn't go through NFC, means no contract. MOU (memorandum of understanding) is a non-binding agreement only. Please do research on your own on companies listed below by going through their announcements. Don't just believe what AZG says or based on simple assumption.

1) Poseidon (POS) nickel concentrator. no funding from NFC. twiggy & singleton still try to source out other finance alternatives with no success.

2) Fortescue (FMG) Salomon power plan. spoken to arccon... They say not going ahead. Power plan sold to other company.

3) Reed (RDR) epc. vanadium project not going ahead. Dead project 3 yrs ago.

4) Marengo (MMC) epc. $1.2b project frozen, DFS result delayed... because of power plan failure. $1.2b too large to get funding in current climate.

5) Kula (KGD) epc. mining licence expired, funding issue, too large to get funding. Not going with NFC.

6) TNG (TNG) epc. DFS progressing. Company struggling with cash. Just did small capital raising of $1.45m just to get them going for another months.

6) Ironbark (IBG) epc, BFS submitted... This is Arccon only chance. But again mining in Greenland is still in early stage, may not happen in the next 2-3 years. Not sure if Arccon can last for another year.