Ann: Development Progress - Lindi Jumbo Mine, page-7093

Just taking a look at earlier off take agreements where the company has previously stated the end user is keen to work within the framework of Wogans sale agreement…As Mike references containers are firstly cleared through customs before being loaded and shipped now occurs. How many containers not sure, but at least one Imo. Once the container Is loaded onto the ship 80% of its value is paid to Lindi. While only smaller orders are between 20-80 ton the end user can validate the product before placing possible larger orders.

This arrangement means many end users are getting a chance to purchase and quality the products themselves before placing larger orders. Mike has already indicated upto US$1500 is being achieved outside of China to Westerners. While not all will require large amounts each client that requires more creates a more competitive environment…The bidding process via supply and demand constraints may well be in Lindis favour…If the likes of quinxin place a large forward order after validation of product would certainly bode well…

Lindi Graphite has unique characteristics with expansion ratios 3 x time larger than of Chinese supply…The company has completed a down stream processing study also where simply selling exfoliated graphite provides larger volumes for an end user to purchase. What additional value does down stream processing offer…Interesting times



Regards Croc