Ann: Greater Than 90% TGC Flotation Concentrate Achieved, page-2

SGA is using purity incorrectly listing as TGC which is TGC = LOI - (VOL+MOIST). Industry standard is LOI or Cg not TGC.

For example, if the LOI for a graphite powder sample is 88% LOI, less Volatile Content which for amorphous graphite powder is very high at an average of 3% to 5% less moisture of < 0.5 % translates to TGC range of 83% to 85%; LOI or Cg is the ash % that an end user formulates to not TGC.

So, using this logic of 90%TGC, the actual LOI would be 93% to 95% through flotation which is impossible to attain for microcrystalline graphite powder.

If an end user requires volatile content, this can be reported on the COA as a separate value.

TGC is applicable in measuring head grade for graphite container ore.

Again, another demonstration by a new graphite project not familiar with graphite powder industry standard for graphite powder or in the general graphite powder industry.