Ann: Graphmada Graphite Mine Operational Update, page-2

Great progress ! congratulations to management and to long term shareholders ! Some highlights :

1- Refurbishment on-budget and on-schedule !

2- Major Equipment Items fully paid (huge derisking of the refurbishment program) and shipment to Madagadcar already commenced ! (IMO as I speculated arrival earlier than expected by end of september instead of october)

3- New flotation cells (manufactured on-site !) already installed ! (doubling of the flotation circuit capacity)

4- New foundations and civil works well advanced for the installation of the state of the art 12.000tpa drying circuit !

5- Many equipment items are being fabricated on-site ! resulting in important CAPEX savings, time savings, maintenance costs savings, and accumulated expertize which will help greatly the company in its future expansion of the plant to 20.000tpa+

Very exciting times ahead of us, I have no doubt in my mind they will achieve more than 6000tpa large flakes production at 94%+ purity by the end of this year (I even expect 7000tpa+ and some off the charts 96% - 98% purity for the largest super jumbo flakes at 35mesh+ which they could command easily some 1800$+ per tonne).

Happy multi-bagger graphite investment to all !