Ann: First graphite concentrate shipment from Lindi Jumbo mine, page-99

Interesting to see that apart from the Wogen arrangement, WKT had a couple of Chinese offtake interests prior to commissioning, then once in spec product is produced, the Europeans are buying it. The benefit of market pricing is already evident. Whoever needs/wants the graphite will buy it, and they will pay for a premium product. Competition for their product is the best outcome WKT could have, only drives prices up.

Near DFS sale prices already being achieved, just need the ramp up to be realised for the profits to come. The DFS margins will higher due to the reduced opex, with the highest opex cost being reduced by 80% as per the recent announcement.

Also looks like the Wogen arrangement is already paying for itself, selling to the previously unknown European customer means they paid more than the Chinese would have. I wonder how big and regular the larger order that WKT referred to is??? Or how many other unknown buyers are in discussions with Wogen and WKT!

WKT can focus on their operations and Wogen can focus on getting the best sale price for our product. Proof is in the pudding, if the customers return, they are happy. Looking forward to seeing confirmation in the coming months of the Europeans wanting more.