Ann: Maiden Resource for Mahefedok Deposit, page-44

Going from the quarterly statements, the BSM cash burn rate was about 1.25mil a quarter without exploration or about 5 million a year. 6K tonnes at $800 per tonne would cover that. Current quality from BSM is below this IMO (last announcement showed grades ranging from 85% to 95% carbon content with over half at -80 or below in flake size). However, the plant upgrade is obviously going to fix up the carbon content issue and $600 to $700 per tonne shouldn't be a problem. 50+ mesh at 94-95% carbon content is around $1200/tonne and almost half of the graphite around the mine site in Loharano is of this grade. So assuming the information is accurate, it looks doable on paper.

Below is Directors Peter Wright and Richard Anthon buying 2.5 mil shares. At least their not selling according to **.st