Ann: Notice of General Meeting/Proxy Form, page-215

Good afternoon Ladies and Gentlemen

Just going back over a couple of announcements and recap.It is noted that a consolidation has taken place and is ready for the next leg.A stronger register which now's sees this as an opportunity as funding and off/take talks are being advanced. Chinese end user requiring a second sample for testing...

The expected news flow should involve mining licence application,modest off /take's combined to 40,000 TPA at a price of > $1687 as per  DFS. The DFS deliberately used modest basket price against piers.

Mitigating Risk with a priority high feed grade mine operation from surface.

• Walkabout Resource will become a producer of the best flake in the industry​
• Under pinned by Best in class flake distribution located from surface to a depth of 70mt.​
• A reliance on premium markets limited by supply (Not Vanilla)​
• Niche and Expandable market's limited by supply of material​
• Key to limiting Risk with a low start up cost operation with lowest ROM​
• Being able to compete directly with Chinese Market's and profit​
• So far indications are that this will be achieved but not before funding and off/take...​
• Resource is open to with rapid expansion high priority targets identified with TGS at surface of 36% on a 4 KM strike length.
• Expand in to known markets with certainty...Mitigate the early start up risk...
• Start sensibly

From the IIR report shows that our resource and NPV are robust and economical

• IRR of 97% Outstanding
• It is noted that our NPV has been discounted using basket price of $1687 when piers have used >$2500 for their DFS...
• ROM of $292 and $60 delivered to port.

The brown bubble indicates our appeal...

Dr Evan Kirby has been busy working on our attrition and flotation.This work has reduced a step which demonstrates outstanding treatment characteristics for Lindi Graphite.The larger the flake the more amenable it becomes.


All of our product is now qualified for expandable markets and super jumbo being directed to Niche markets.Niche markets may achieve as much as $4000 to $6000 but of course this will be directly related to market forces.Being of limited supply makes this more achievable...

Importantly flake size is being optimized while achieving spec purification 97.1% purity.



Our DFS report showed an NPV of $323 million using $1687 but what about the upside...?The
competition are using far more favorable basket prices,so why not us...? NPV upside....

Dr Evan Kirby has sufficient experience who specializes in metallurgical consultancy.

A lot of work has been done on realizing our product and characteristic now being tested by end users and some second test's being sampled from China. Expandable markets from China are growing considerably with new regulation mandates to insulation products to limit fire risk.(Fire retardants)

Croc