Ann: Proposed Issue of Securities - Updated, page-61

Hi Croc,

Have you done any research on MRC, its becoming embarrassing with the commentary you are coming out with.

Here is the break up of the funds MRC intends to raise.


One could assume the $5.4mil is related to the upgrading of the cyclones and the water intake issues.

The yellow sections are the funds required to expand the plants capacity to 3.9 mil tpa along with inventory spares.

The Green sections are for expanding the production at their Skaland Graphite mine, taking 100% ownership in the project and the pilot battery anode facilicilty which is 50% funded by the Australian Government.