Quarterly Report - Q2 2024

We continue to build momentum in 2024, with another strong silica sales quarter and completion of work on our first North American lithium piloting site. We worked in the Permian Basin for almost seven weeks, successfully processing three different brines for a household name oil and gas company.

We have also signed a contract to permit piloting with another large oil and gas company that will see us move our lithium field testing pilots to Louisiana in the coming days. Being out on site at the well-head has certainly made the sector take note, improving the quality of the opportunities we are being offered. This is particularly exciting as we look toward committing to the build of a lithium demonstration plant.

Work towards licensing our silica technology with geothermal majors continues, with us awaiting a tender decision on micro-piloting our technology at one site and having agreed high-level commercial terms to micro-pilot on two other sites. Our strategic approach in both silica and lithium is certainly finding favour, creating strong opportunities for us.