Ann: Australian Government $185m Conditional Loan Presentation, page-14

‘The difference in feedstock price has an exaggerated impact on PSG operating costs because only half of the Graphite Concentrates used as feedstock are spheronised to PSG during the milling process (i.e., PSG production can be at a 50% yield).’

RNU's feedstock cost advantage has now gone from US$406, as reported in its last presentation to a whooping US$621 per tonne. That's an increase of US$244 per tonne. So how will this translate into the Optimise DFS due out in a month or so?

This doesn't take into account any further increases or the predicted 'Graphite Shortage' that's looming. Therefore, if and when that does kick in and prices are revealed it’ll be' interesting' to say the very least.

It just underscores the low-cost competitive advantage RNU has to produce PSG production over anybody else (and Offtaker's know it).

Go the Green and Gold Kangaroo!

All IMO, DYOR, GLTAH



My highlights shown in red pen.