Ann: Appendix 4C - quarterly, page-10

In putting all the fluff announcements to the side, we've just got to hope as shareholders that Gerdau stand by their comments in the MOU announcement on the 9th of March and that everything is still progressing as expected. As Gerdau's Alexandre Correa said, "We have selected First Graphene as a partner because of their robust supply capability, product quality and expertise". They 'selected' us....

Let's not be under any illusions here folks, FGR need this collaboration to be formally agreed. There's nothing more important at this juncture in my opinion. Yes there are other technological uses for our graphene (incl cement, hydrogen etc) but the company gains much needed kudos/credibility in the here and now by the formalization of the tie-up with Gerdau. Let's be frank, some of the other tech may take a while to result in any commercial agreements/sales.

Clearly, any formal agreement with Gerdau will very likely result in substantial sales of puregraph. At this point in time, it seems to me that that's really the only thing that will propel the SP into the 30c to 40c areas.

I live in hope that this agreement is signed, sealed and delivered in the not too distant future.

GLTAH & DYOR

Mr B.