Ann: Quarterly Activities Report and Cashflow Rep, page-8

re: Ann: Quarterly Activities Report and Cash... DDzx...

"SYR made their first announcement within 3 days"

Lets take a look at that shall we...

On 18th May (a Friday), SYR announce...

"COMMENCEMENT OF DRILLING AT BALAMA GRAPHITE PROJECT"

Given the announcement came out in the morning, and no mention was made of visible graphite in the core (remember it started from surface), then we must assume the hole had just started, or in ant event was less than a few metres deep...otherwise they would have mentioned the visual graphite in the core.

Then...pre-market on the 23rd May (5 days later - including a weekend), we get this...

"EXCEPTIONAL FIRST DRILL INTERCEPTION"

In this announcement they reveal they have intersected "" 287.5m of graphite mineralisation from surface" in drill hole BMDD0001, and that drill hole MBDD0002 (about 100m NW) is currently drilling and at 23.5m depth.

Thats a total of 311m of diamond drilling in just 5 days, or 62 odd metres per day...and thats without allowing a half day or so for mobilisation, pulling of rods and casing, shifting the rig (its not on tracks), setting the collar, etc....over to the second hole.

Almost impossible...almost...

None the less, with core on show at the drill site, it is important to release discussion on obvious visible mineraliastion to prevent insiders (drillers, locals, etc), buying prior to the market being informed.

By comparison, KNL are drilling RC holes - quicker, but visual estimates will be less reliable and fraught with danger, but importantly not obvious to those at the drill site other than the rig geo...so KNL may well decide to wait for assay resuts prior to releasing, unless they hit something extraordinary or feel confidentiality of infomation at the drill site may have been lost.

No sign yet of insiders buying in my view...just a hand full of retailers taking positions at the begining of a typical drill programme...me included...as you often see.

Also...RC chips are less sexy to photograph than core, so hard to talk up a decent visual for the market as per SYR.

I suggest we give KNL time...abd be patient...I suspect (hope) it will be worth it.

Cheers!