Ann: Development Progress - Lindi Jumbo Mine, page-5968

Hi Sparecash

Are you aware Chinese pricing if FOB "Free on board" WKT has no additional costs when the graphite is loaded, where the european pricing is CIF "cost Insurance Freight" WKT needs to cover all these costs until it arrives at the end users.

You seem to think WKT will achieve DFS pricing but have factored the additional costs associated with CIF or the costs WKT needs to pay Wogen to manage the sales.

You have also assumed WKT will produce the same ratio of Fines, Medium, Large and Jumbo. if WKT fails to achieve these flake ratios they wont achieve the DFS pricing.

Anyway, we all look forward to seeing the QTR cashflow report, we will all see those sales and work out how much WKT is being paid along with the plants production.

I have a feeling although the graphite has left the production facilities, we wont see the shipment of graphite until the next QTR.