Ann: Great White Kaolin Project - Definitive Feasibility Study, page-132

Interesting to look at the volume so far. I know we have a few hours of trading to go today but about 110million including Chi X so far. So hopefully most shorts now covered...hat's off to you all, you played a blinder.

Even if we hit 200million its only ~ 6.5% of SOI. I know that's a chunk but with 13000 retail holders I suggest most selling is come from smallish holders and the T20 are doing limited selling.

Not trying to dress this up by the way, it's a dog (when compared to PFS) and a real kick in the teeth but I don't think it's quite as bad as the current reaction is showing. I've bought a few more at the lows for the bottom draw as that's what this likely turns into now.

Unless we see some news in the coming weeks of new offtakes or agreements to significantly improve NPV I feel we will be at these levels for sometime to come.

Keep your chin up those who are going to hold and remember this is on ~ 4% of SOI that have sold out today so far.