Ann: Half Yearly Report and Accounts, page-15

The deals keep rolling after mine construction starts & cash flow is good. URBIX is not going to be the last deal for module2 ( if it goes ahead or not), as the remainder of module2 has customers lined up to make an offer & possibly bring construction forward.

I attended several general meetings at a few different companies ( before the COVID lockdowns) & asked the small questions ( just like many other investors), and got told basically that; organising the distribution logistics to offtake customers is more difficult than the straight forward process of designing & operating a graphite mine. It sounded odd back then. But it shows that graphite companies know that a lot of details need to be worked out before deals are done.

The Citzen news article on MNS indicates many similarities between MNS & BKT on their road to establish a graphite mine in Tanzania. BKT has better environmental credentials as it is connecting directly to hydroelectric power & already run Big pilot plants to qualify product use of customers, etc. The interesting part in the article was the bit discussing construction finance & know it is a “competitive process”. MNS doesn’t have finance yet, But confident it shall work out soon.

BKT is shovel ready & is hopefully looking at starting construction at end of wet season shortly.