Ann: Quarterly Activities Report-FGR.AX, page-4

One of the key money spending areas was the development of the three shafts, ready for mining, About $120,000 each - not so wild.

Remember that this report is up to 31 March - still expecting production on track,

The "further drilling at Aluketiya" to provide further production potential is a reference to the very exciting discovery at the first shaft which may be a "company maker" in itself.

FGR to date has always reported in a very conservative way. This report is consistent with that,

The RIU conference (where W Grigor will present on "Making Money from Graphite and Graphene" on the first morning), is less than two weeks away. We should get more information then, if not an update from the company beforehand.

All looks positive to me - but I'm a glass half full kind of guy.

Build it and they will come.