Quarterly Report - Q3 2024

We have locked away another strong silica sales quarter and we anticipate doing the same in Q4, such that we are now struggling to keep up with demand.

As we go to print we have commenced processing a lithium-bearing brine at our third North American pilot site, this time in Saskatchewan, Canada. This work programme is exposing our technology to the most ambitious lithium explorers in the game, and we will continue this work through Q1 2025.

We signed our first contract to study silica and lithium extraction with a geothermal generation giant during the quarter, and we won a tender to undertake similar work in Indonesia with a major power generation company.

These deals provide initial tangible evidence of belief in our mineral recovery technology offer. We are also pleased to confirm that Tembo Capital and Vision Blue both exercised their investment options during the quarter, providing the funds for a larger-scale lithium demonstration/pre-commercial plant, alongside working capital.