Ann: POSCO Signs Cooperation Agreement, page-26

Good Morning Stirer,

I have always asked these questions, you know my view on EGR, I am for the downstream processing which POSCO is highly interested in.

It appears from todays announcement we could also become a toll process for POSCO where we would be able to secure graphite supply from POSCO (through BKT) to then send to the USA, Europe and Korea, where our purification facilities will be located.

There is no mention on Kwinana, which needs to be clarified, did EGR just blow 2 years obtaining all of these approvals and completing the detailed design for nothing?

Then you have the other discussion point, Does POSCO need RNU?
I would have thought after reading todays announcement there would be many RNU shareholders wondering why their management team haven't been able to move forward its agreement with POSCO when they commenced negotiations with the company a number of months prior to EGR,
The timing of EGR/POSCO's agreement has also fallen very soon after RNU and Dorfner submitted their final objections to EGR's patent, I have said several times the objections appear weak and I believe POSCO would have a full understanding on the quality of the objections and if it is likely for EGR to secure their patent.

looking at the map above, POSCO and EGR are looking at 3 global locations to purify spherical graphite. Who knows RNU might be come a supplier of the lower valued unpurified SG where we purify their graphite to provide POSCO with a consistent quality PSG.