Ann: Graphite Bull Update - Metallurgy, page-3

Some highlights from the announcement:

- The excellent concentrate grades, high recovery, consistency and convergence of results from two independent facilities have exceeded all Buxton’s expectations.

- Achieving concentrate grades of over 98% TGC by flotation alone is a superb result and indicates purification to battery quality should be straightforward. These results surpass requirements for commercial PSG feed.

- These results mark a major technical milestone, and were so robust, later tests could be focussed on simplified processes amenable to scale-up for the 80 kg bulk run to generate concentrate. That next stage of work is already underway.