Ann: First Drawdown Senior Debt Facility, page-175

I think you will find they wanted everything to do with the project once completed but not beforehand…Which begs the question why did the original directors support the insurance pathway and the replacement directors asked for a cash backing for the full amount…Who termited the deal and why…

While I can understand Lindi is a threat to graphite market place I’m not expecting them to process the reserve stockpile at 6-10% grades free dig…

So why are peers so concerned about Lindi…While the reserve stockpile has similar flake distribution Will it become compelling to process the reserve stockpile in the near future. What price would a peer place on the free dig stockpile

With China now banning exports and grinding down larger flake size to provide security of supply to its own battery technologies where else and who else can provide larger flake graphite and what price will -100 and +80 rise towards…? Today it’s not viable for peer projects to begin development as the current pricing does not provide for an economical return…Western markets will need establish new supply chains and maybe this is why the Biden defence force inspected Lindi a few months back…

Anyway as you said the project is now fully funded and construction is 80% complete…

Regards Croc