Good progress to report on our Kentucky facility this week.

All the replacement parts for the kiln have now arrived on-site. Each one is being individually retested at a dedicated testing station before it goes in, and the kiln manufacturer will be on-site the week of 24 August 2026 to finalise the electrical works with our partner Kentucky Carbon Processing. As a precaution, we're also replacing all the wiring associated with these parts. We still expect kiln construction to be completed this quarter, in line with what we told you in our June 2026 quarterly report.

We've also made a further US$250,000 investment in NewCarbon Processing, LLC, our jointly owned Kentucky entity. This is on top of the US$250,000 already disclosed in our 31 July 2026 quarterly report, and it lifts our ownership stake in NewCarbon to 49.4%. Our total investment in NewCarbon now stands at US$9.75 million.

Both of these updates point in the direction we want to be heading: the kiln nearing completion and our position in NewCarbon growing. We'll keep you posted as the electrical works and construction progress through the quarter.

If you have questions about this announcement, we'd encourage you to send them through the question box on this page.