Transport from Lindi, page-24

"If Lindi has applied for their export license for the first shipment or loaded a ship then by your earlier logic that must mean that Wogen has accepted the first shipment and Lindi is producing the 15ktpa rate of 41 bags a day."

Hi Stirer,

Companies can act on an agreement prior to it becoming binding, how else do you think Wogen will secure sales agreements for the 40kt that they have available under their agreement? These prospective clients need to validate the graphite for Wogen to enter supply agreements, As you know Wogen is not a end user, they are a commodity trader.

In simple terms Wogen is exporting graphite to its prospective customers based on WKT current supply, if they secure sales agreements with these customers and achieve the annual export rate of 15k tonnes as per the disclosed agreement, the agreement will become binding for the 5-year period.

If they fail to find customers, they can walk away from WKT or continue in line with the agreement terms. Or either party can terminate the agreement if the annual export rate is not achived.

I don't how you have come to the conclusion that Wogen and WKT's agreement has already become binding based on Mike's tweets that only show 2-3 trucks have left the site in ~2 months, WKT needs 1.5 trucks to leave the site each day to achieve the export rate of 15ktpa.

@SpareCash7 It is unclear how much of the current costs are being covered by Jinpeng, WKT disclosed all of the running costs are to be covered by Jinpeng until the plant is handed over, this might explain why WKT is still able to cover their costs with the $4.15 mil they had available at the 30th of March.
I have also suggested the US$5mil is WKT 2 QTR of loan repayments.

We have already discussed the interest payable to Gemcorp which was around $480k per month, ~$1.5mil for the QTR.
They have corporate costs, Administration, marketing, and directors fees, it is also unclear how much costs they will have from operating Lindi. or if Jinpeng needs to cover these costs.
What we do know from the 7th of June announcement, WKT has elected to pay Jinpeng its final payment in shares. This is odd when you keep on claiming they are flushed with cash.

BTW what happened to BMCG's US$9.3mil and the Tanzania bank's US$4mil and what is your forecast for WKT's cash backing at the end of the QTR?
Anyway,