Ann: Outstanding Drilling Intercepts Underpin McIntosh Resource, page-11

Hi Chaya & William.

Today's announcement is nice but nothing we did not already know or, at the very least, expect. So it's not going to excite anyone else really, is it?

So I fully agree with Chaya, all very nice but where are the offtake deals?

I have written this before & got smashed but I will risk it again.

Hexagon is a one man band & their is a limit what one man can do in 25 hours per day. Tony Cormack is alone. He is supported by 3 other directors, but they are part time directors & not full time executives. I have heaps of time & expectations for Charles but he is not yet a full time executive.

Meanwhile we have deals to negotiate, old & new clients to communicate with & follow up, a pre-feas study to manage, native title & all that goes with it to to negotiate & manage, a mine to plan & finance to arrange to pay for it, plus the day to day business of the company to run. Add to that the possible copper /gold deposit & the continued chasing of the Hengda write-off (both of which should not be on the agenda for mine) & it's pretty plain Tony Cormack is a under the pump & stretched.

It's too much for 1 man!

So, it's about time the board of directors got their fingers out, took their heads out of the sand & realised that the company has moved on & that they can relax the purse strings a tad. The company needs to employ some quality staff to support Tony & move this company into it's next phase with deals made, finance arranged & a mine built.

That said it's also quite obvious from the announcements of other leading companies in the Graphite sector that real deals with western users are not short term things & a lot of testing & negotiation has to be gone through before anyone is confident enough to make these commitments. MNS came up with a Russian nuclear reactor company while another 2 have come up with middlemen. No battery leader end user deals like Tesla, Panasonic, etc., for anybody yet.

So patience is required. The resource is large enough for a 20 year mine life (at least), it is amongst the world's purest & is in a much safer location & jurisdiction than it's competitors.

It will get there, but the magnitude of the returns for shareholders will come quicker & be stronger, if & when Tony Cormack gets more support from a pro-active full time board.