Hi Stussy, Great question,On the Battery Mineral division, they...

Hi Stussy,

Great question,

On the Battery Mineral division, they are running slightly behind schedule. I am honestly surprised MRC is moving forward with its 90% ownership before the EPA signing off on the final regulatory approvals. and the DFS has already been completed, they are upgrading the DFS which should include and increased mine life due to additional exploration.



MRC recently completed a CR, which didn't raise all the funds they intended, part of the funds were meant to be for the expansion of Skaland graphite mine increasing its capacity by 50%, by memory, it was only $600k needed to expand the capacity.

MRC is also moving forward with the pilot plant development and has bought into another company to gain access to its purification process. (MRC also tried to raise the funds in the last CR to move this forward.

On the Mineral sands side of the business.



the third PCB has been delayed, which is understandable as the 3rd PCB is required for the inland strands mineralisation, as you would know the production was reduced significantly last year due to water intake issues and the requirement to make improvements to the GSP, the issues with the GSP is also to blame for the delay with the MRC moving to produce finished products (MSP - Mineral separation plant), MRC expects the 3rd PCB to come online mid-way through the year and the MSP towards the end of the year. 6-9 months behind schedule.