Ann: Investor Presentation - July 2017, page-24

Hi All,

Not sure what's to worry about with the water issue - the last update in mid-June said it will be resolved in coming weeks - that puts us into July by my count. We're still recovering okay at current process rates, so chillax.

Also, given we haven't heard on metalurgy, I doubted Graphite JORC was likely Q2 - personally, I'm a bit doubtful we'll drive this to JORC in Q3 too. I would like to see the Met results sooner rather than later to prove what we have, JORC can wait.
My thoughts on this are that the Graphite is not our primary play and all resources should be directed to ruby auction. JORC costs money, so I'd be happy to defer this until we have our pockets full - albeit I can see the current upside given the neighbour's political/legal issue with unfair miners - but this is a long term play.

Personally, I thought the report was good and consistent with where we are.

I'm looking forward for this to run... just when is the question. I like the people who advise to wait until September when the auction is on. They haven't been caught out with an early run before (as I have), I am guessing.

Cap raise at some point prior to Oct is still possible (and we'll get clarity if this is needed or another option is created in coming weeks), but I suspect any cap raise will be nominal one if any to ensure minor dilution. I suspect these ongoing reports are to ensure if one is needed last minute, there will be sufficient interest to fill - it's just smart management to have contingency plans.

In terms of accumulation, I was hoping to get my tax return in, and refund back, to buy a little bit more or even wait for annual bonus time in September, but I suspect I may be too late with both of these. But, DYOR and make your own decisions.

Good luck all.

Cheers,
Capt Amazing.