Ann: Quarterly Activities Report, page-4

Well there you go , 9 to 12 months to production , the early start program saves up to 3 months , funding announcement could drop at ant time , Ireland 4 VMS targets waiting for drilling approval plus un explored ground being sampled near Dalradian , good idea to contain spending on other projects till Lindi is fully funded, alls good at WKT , feel sorry for those that sold.

Funding Activities
The Company has now completed a period of detailed assessment as to engaging with alternative global debt and equity providers to fund the development of the Lindi Jumbo Graphite Project. This process has concluded with the decision to engage with a renowned international Investment Bank to procure the predominantly debt-based portion of the funding requirement. This robust process is ongoing and will conclude when all legal, commercial and technical assessments, independent reviews and marketing processes have been finalised. The process is subject to many third-party due diligence processes and the Company is unable to estimate the date of finalisation which will ultimately trigger the final construction schedule dates. Scheduled production will be achievable between 9 and 12 months after access is provided to full project funding.

UK Joint Ventures
During the Quarter under review the Company progressed the applications for Special Planning permissions with local councils and permissions from local landowners to enable drilling on selected SkyTEM targets within the Tyrone JV licence area. The final applications are planned to be submitted to the relevant authorities during the third Quarter and the Company is working closely with all the affected stakeholders to keep them informed of progress and plans.

The Company completed a regional soil sampling program over previously unexplored and highly prospective Dalradian basement within the Antrim gold JV licence areas. Once available, the assay results from this program will dictate the next step in this area. In Scotland, regional and target specific reconnaissance exploration continues while longer term access agreements and the Company’s exploration programmes within the license areas are discussed with the Forestry and Land Scotland Department. The company is cognisant of the fact that exploration expenditure needs to be measured during the procurement of project funding for the Lindi Jumbo Project in Tanzania.

Namibian Eureka Lithium Project Quotes for drilling in Namibia have been received but in line with the Company’s current position on exploration expenditure while funding activities are underway, the program has been deferred until the market can be updated on the progress and outcomes of the funding programme.