Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-11

Nothing too unexpected here..

A little extra spend completing the upgraded COLDry facility, and obviously the 640K used to secure the plot of land in the LV. General operating expenditure in line with forecasts.

Ending up with 1.11 Mill, plus 160K not included. Add another 1.2 Mill for working capital in early May from the recent placement..

Cash on hand will be - approx 2.5 mill - 3 Quarters or end of 2022.

Plus 7 Mill to complete the expanded Phase 2 BM project.

The Debt facility of 1.968 Mill will be paid off with 22/23 tax rebate (early 23 ) which should exceed 2 Mill, considering the increased spend on the BM project, which should leave some change in the kitty.

Further opportunity for cash flow, obviously the grants, but I'd like to see a push on the rotary kiln with a goal to generate revenue from Char.( Call that Part 1 of Phase 2 )
With Graphene X on board, I think there's opportunity to lock in an off taker, and with an attractive commercial agreement, up front payment to secure supply.

Well done to date ECT.