287m graphite intercept, page-61

Extract from Diggers and drillers-

What does this add up to?

That Balama could be many times larger than the largest graphite deposit in the world - the 330 million tonne deposit mined by Chinese company Jixi Liu Mao Graphite Resource Co.

How to value this deposit is a story for another day. In the April newsletter, based on peer metrics (from early stage Canadian companies with comparable grade) I suggested it could command a billion dollar value, working on the basis that it would be 20 metres deep.

So what to make of depths of 280 metre?

We need more results, and to also see the assay results to confirm the good grades at surface continue at depth. So it's too early to say, but it's one fantastic start.

With a longer history in graphite, the Canadians understand this market better than Australians. So when they wake up for breakfast, this result is going to have them choking on their maple syrup and bacon pancakes.