Ann: Development Progress - Lindi Jumbo Mine, page-1642

IMO Gammat our biggest concerns will become the reserve stockpile which can increase the life of mine upto fifty years…They could provide the battery market but would alter the advantage of high grading the reserve…With silicon anode material transition towards silicon Lindi could be left to provide all the westerners for expandable and coatings markets…There are no bans on China importing expandable and coatings graphite…

The company has already completed a study on down stream processing which did not make onto the IRR report that gave a base case value of 48 cents per share…The major accumulator would be very satisfied with the IRR report

Im not sure that will provide graphite into the battery markets from the reserve stockpile but would like for them to sell the stockpile to a third party like MNS who need a life line…What value would there be in that per ton free dig to a third party…

Regards Croc