CR, page-14

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Below is some known data comparing Flinders and Valence.

FLINDERS
Operational Highlights of the PEA: Up to 155,000 tonnes / year of mined material delivered to Run of Mine ("ROM") with 10.3% average graphite head grade. Design production rate of up to 16, 600 tonnes / year of graphite concentrate. Excellent graphite recovery of 96%. 88% to 95% graphite purity and 40% by weight as premium large or extra-large flake graphite. Measured and indicated resource of 2.8Mt at 10.7% graphitic carbon 13 year mine life

VALENCE
Announcement
Phase I to produce up to 14,000 tonnes of graphite each year 2014 07 VXL Graphite Process Plant Update v1.0
Processing will ramp up progressively as treatment commences on the main stockpile (74,000 tonnes @ 10% average Graphitic Carbon grade)
Phase II expansion to increase annual graphite production capacity by up to another 60,000 tonnes of graphite per annum.