Ann: Castles Kambale Project Exceeds 1.4Mt Contained Graphite, page-27

Agree, as a BOD with geologists on it they should know the required spacings to get resources in the appropriate bucket. The positive is movement to the Indicated bucket and the higher TGC grade. Yes the other positive is they seem to have a large resource that with a few drills they can move into the Inferred bucket of the MRE. Certainly have the resource to do a Scoping Study, noting Scoping Studies can use inferred resources, unlike a PFS/DFS where the resource base commences with Indicated/Measured.

The negatives is that:
1. the MRE has essentially not increased since the last MRE was done back in 2012, although the 2012 MRE had resource only in the Inferred bucket - with the exception you now have resource in the Indicated bucket and TGC has increased. This is not good as CDT has an image of a lifestyle and lazy company and this MRE doesn't do that image any good.
2. The pace of progress is slow and how long is it going to take for this company to get its arse into gear. Having a MRE that hasn't essentially risen from 2012 is not something the market is going to accept.

All in all, this MRE should have been deferred until they did the few infill drills. Disappointing ANN.

All IMO IMO