Ann: Corporate Presentation Future Facing Commodities Conference, page-2

Just relistened to the Singapore preso. In the event program guide the chair of the company, Phil Hearse, was down as the presenter but in the end it was the MD, Andrew Worland. I reckon AW does a really excellent job as frontman but I was hoping that PH might have given a slightly different angle to the pitch. Not to be, never mind, another top effort from AW.

A couple of observations: At the start of the preso, AW semi-joked that given the company would ten port (hey, I'm a Qlder!) in the next 12 months and given he had 10 minutes to give his talk that worked out as one port (can I say it, "one-bag") per minute. Underlying the attempt at humour I think it does show that the IG6 team are frustrated by the lack of market recognition they have attracted (as in why does Renascor have an enterprise value an order of magnitude greater than that of International Graphite).

Also notable that the company IPOed two years ago and so far has not gone back to the well with a fresh cap raising. Admirable! And it is not that they have been sitting on their hands in that time, more a combination of government support and running a tight ship I suspect. I think there is an expectation of more gov funds flowing in but I continue to think they will pass the hat around to raise the $12m+ they need for their 4ktpa plant (scheduled for mid this year). I can't see Comet being in a position to pitch in so I'm guessing either a share purchase plan (at say a maximum of $30k per shareholder) and / or a placement to a strategic partner. I think the coming cap raise is causing much of the frustration about the lack of market attention the company has been getting.

Finally, on the Springdale mine site. AW was saying that current plans are for Springdale to produce enough material for 40ktpa of 95% total graphitic content and with current MRE there is enough material for a 40 to 50 year mine operation at that 40ktpa production rate. He then said that they expect that once they have drilled out the rest of the known areas of graphite they would likely double the MRE. I'm not quite sure why, at least at this stage, they would bother paying for all that extra drilling when they are modelling for a life of mine of only 15 years. Why not do a stage one development now, say 40ktpa for 15 years, and later on look to have additional stages once the money has begun flowing. I can understand them moving more of their inferred resource up to indicated resource but not to be looking for additional tonnes that will not be needed for a number of decades.