Ann: Key Board and Management Appointments, page-71

Brad Boyle is definitely the wrong person to be brought in based on his performance at TON recently...

having held and traded TON last year, I know a bit about him from my time holding TON... a captain is always responsible for any failure - be it cricket, rugby or graphite plays... BB has no runs on the board and lesser credibility... but look at TON - trying to project a super-pit for a commodity that is not traded as per the other normal commodities like Zn, Cu, Ni or IO...

Graphite is TOTALLY different than the rest of the OTC commodities... every pit produces a different form of graphite and you need to find a buyer who can use that.... this is a very niche product... employing excavators and digging up 200KTpa of graphite is not going to work well as BB realised... not being able to translate one of the biggest in ground tonnage of graphite into a single dollar of confirmed sale requires a different acumen than what BB probably possesses ... he needs to treat ADV as a boutique mine and find a couple of users/traders who can use our few 10s of KTpa (not the 200KTpa) graphite and secure an offtake deal with them - a BINDING offtake deal... not a wishy washy deal with some Chinese conglomerate for $ 2 bn on paper that is worth absolutely nothing commercially and non-binding...

if BB has learnt his lessons the hard way , then we will be not suffer as have the LTers at TON... probably this is his last chance to make a name for himself and wash his hands off a failed journey at the helm of TON...

also, the difference between TON & ADV will be the Li plays we have... if the historical drill results are improved upon then a talker like BB will be useful to bring our company into the limelight more...

time will tell but BB should be on a tight leash and not allowed to play this like he did TON...