Ann: Exploration Update, page-14

Still pretty quiet around here.

If anybody still thinks that graphite stinks, take look at EGR (up 4x in a month). Their resource is 10x ours but grade is similar at 7%. In the graphite business they like to use streams as an analogy of what is happening and where (upstream, downstream and mid-stream) EGR has all the streams covered but no mine yet and their m-cap is 25x of ours. I am not aware of any streams on Eyre Peninsula, so maybe we can use up-ditch or maybe down-wash when things start happening.

Seems to me that there is a back-log of positive announcements pending, hope I am right.