1. In his due diligence and with his extensive knowledge of...

1. In his due diligence and with his extensive knowledge of graphite geology and the demand for Large to Jumbo flake and having full access to all the data Moz currently holds, he estimates the quality of graphite is inferior to MNS.
2. Estimates from his due diligence the size of the deposit is inferior to MNS deposit.
3. Estimates from his due diligence that the deposit is isolated, expensive to mine and get to market compared to MNS.
4. After doing his due diligence on all the above and considering his future he decides that he will struggle sell any of the MOZ deposit into his extensive list of global contacts.
5. He decides his personal future opportunities and goals are better at MNS rather than MOZ.

ALH.