Ann: Investor Presentation - 121 Mining Investment Africa, page-14

Yes I think the nickel project approved recently gives us confidence that we won't be too far behind. Tanzania wants the investment and the free carry is expected - I personally can't see this trading below 20c if announced and closer to 30c on finance depending on the structure . At its current market cap it must be pricing in sovereign risk particularly initial approval. I think that risk is minimal and that with news expected in next 6-8 weeks I think this should be trading at 250m Market Cap. The metrics and management , backing of Posco - the stage it is at this seems very underpriced to me. Graphite might not get the headlines of lithium yet but will one day when fully understood.