Ann: Proposed Issue of Securities - Updated, page-5

I have to say I did enjoy the interview with Kerry Stevenston, she wasn't shy to step forward to ask for clarification or for the response to be in an easier format for investors to understand. It is really good to have a CEO who is willing to get out there to market the company, its been a number of years since MRC had completed an investment video.

Scott was very honest about the situation MRC was in, it was great to finally hear what the issues are with processing the Inland strands mineralisation, the slimes/fines from this mineralisation are impacting the recovery, MRC has an engineering solution to resolve the issues and they expect to have the mine back operating at a profit in 1H 2024. It was unclear if we had already purchased the additional equipment or if it had been installed. either way, we have nearly half of the equity required from the earlier placement and the commitment from AU Mining for this issue to be resolved and to complete all of our other items from the capital raising.

It was also good to hear that Scott was meeting with investors next week which I can only assume is related to finding investors willing to take up the shortfall from the capital raising.

Scott advised we are soon to see updated DFS's on the Munglinup graphite project in Western Australia and the Battery Anode facility which is to be located in Norway.
He also mentioned the Mitsubishi MOU where their technology increases the conversion of flake graphite into anode material, I knew Mitsubishi had technology to improve natural graphites cycling ability to the same standard as synthetic graphite, but I wasn't aware of the better yield in manufacturing anode material.