Ann: Quarterly Activities Report, page-438

Interesting enough Stifler as per contract payment only kicks in once the shipment reaches the Warehouse…This is almost another savings on timings…

Lindi is in undisputed first mover advantage over unfunded projects for future off-takes…Lindi is underpinned by premium expandable and coating markets with option to sell into the battery markets…Even the bottom end of the basket has risen substantially in the past 5 months…Current pricing at over 15% premium to the robust DFS offering US$1200 free cash margins per ton product….$$$

Great times for long term holders as rapid construction period of plants nears…Foundations already inspected by engineers on site totalling over 113 workers currently on site…

40,000 base ton with additional capacity upto 55,000 tons from no additional capital…

Regards Croc