Greenvale Mining Limited provided an update on the project commercialization pathway being developed for its flagship Alpha Torbanite Project in Queensland. The strategy is being developed in parallel with the geological modelling currently underway for the Alpha Torbanite Deposit as well as another ongoing retort and synthetic product testing program, which is progressing well. Sighter test work is nearing completion and systematic retorting of the core samples will commence soon. An updated commercialization strategy for the Project has been developed incorporating a "green" power generation model, with Alpha aiming to become a long-term provider of power into the local power grid from a 100MW solar and gas-fired hybrid power station. The proposed hybrid power station is aimed to have a useful life of over 30-years and the power generated and fed into the grid will be an additional source of revenue for the Project. The station will help the Alpha Project to become carbon neutral and assist the company in fulfilling its long-term goal of becoming a responsible and sustainable producer of synthetic industrial carbon and bitumen products. The proposed hybrid power station for the Alpha Project also helps serve an important strategic purpose for the Queensland Government as it looks to fulfill its target of 50% renewable power generation by 2030. The company's proposed hybrid power solution has the reliability and base load of a gas-powered plant whilst enjoying the carbon abatement benefits of a solar farm. The company believes hybrid solutions, such as the one proposed, are necessary in moving pragmatically to a clean energy future. A total of 25 sighter tests have been conducted between the 14th of April and the 19th of September 2021, during which approximately 1kg of raw shale per test has been retorted (heated in an oxygen-free environment) with the proportion of synthetic asphaltenes, oil and gas ranging between 42% and 65% of the raw material. Retort (internal) temperatures approaching 1,000 degrees Celsius are required to ensure maximum yield and minimum processing time. The appearance of the retort cannister at the end of the test run with the external casing becoming white hot; When retorted, the fine-grained Torbanite produced the highest proportion of synthetic oil and gas (55% to 65% of raw Torbanite mass), including a significant proportion of long-chain hydrocarbons which will include asphaltenes used to produce bitumen; The cannel coal material (above the torbanite in the outcrop location) produces almost no long-chain hydrocarbons but does produce similar proportions of short-chain hydrocarbons to the Torbanite material and is still relatively high yielding with 42% of the raw cannel coal mass producing synthesised oil and gas products when retorted. It has been observed that the yield of synthetic oil and gas products varies between horizons. As a result, Greenvale has developed a four cannister retort apparatus to enable all the core samples to be tested in an efficient and cost-effective manner. The standardised testing procedure will be based on: Loading the retort cannisters with approximately 1kg of minus 12.5mm crushed core material; Testing of each sample in duplicate to demonstrate yields of synthetic products are consistent and the Greenvale retort is a reliable apparatus; Heating of the retort cannisters above 900OC to ensure the feed material is devolatilised and all the asphaltene content is released; Condensing a hot oil (172OC) condensate, which is then re-heated (to approximately 430OC) to separate the asphaltenes from the oil fraction (with the oil fraction being recovered at ambient temperature); All other oil condensate produced from the retort test is recovered in an ice bath at 0OC; Synthetic gas samples are collected periodically (with excess gas burned off during the retort test); Synthetic oil and gas samples are then forwarded to other laboratories for further analysis.