Ann: Partially Underwritten Non-Renounceable Entitlement Offer, page-205

Apologies for my typo. I type these posts using my work blackberry, and naturally have a typo here and there.

In terms of the revenue stream from the JV - as mentioned in the most recent webcast, the key objective for the $11 million raised will be used to fast track the factory development and have it operational with revenue stream expected by mid 2016 (I must have unintentionally mixed up timelines with DFS scheduled early 2016 with revenue stream from JV mid 2016). Note, he says revenue stream, not profit. Either way, 2016 looks to be key for TON moving forward... Naturally, there will always be delays - in any graphite company or resource sector in general.

However, I do agree with you. Taking Brad's word for it when he says their timelines and key objectives remain the same only goes so far...there needs to be some solid projected figures released to the Market detailing just how he plans to have this revenue stream up and running by mid 2016. I can only hope/assume that this will be released in some way, shape or form.

The last thing shareholders want to see is these dates and timelines flippantly tossed around if there is actually little chance of actually meeting them. Let's hope there are legitimate projections backing up these claims.

Cheers.