Ann: Exercise of Performance Rights, page-27

Hi TPK, I guess you were one of the many who didn’t seem to know what spherical graphite price your feasibility study used v’s what current prices are? Good luck with the profitability , hopefully your new study comes out sometime soon, I am hoping they provide updated data from BMI on any revisions to the forecast prices. Sorry if that upsets you, perhaps you don’t think prices are an important aspect, maybe just rely on the govts to subsidise when not profitable?

Anyway, on the topic of bonuses and trying to compare criteria/effectiveness can you advice what the performance criteria for the RNU bonuses was. As the bonuses weren’t expected to vest I guess that unfortunately means they didn’t meet the performance criteria?