Ann: Quarterly Activities Report, page-1550

With Flake graphite pricing increasing sure is a good time to be negotiating Price…Lindi differentiated to economy of scale projects who sacrificed their flake size for purity…A retention of greater than 74% in larger flake size improves return…26% of the basket with lesser value is now increasing the overall basket price…

So much actually achieved from the companion equity component…Once drawdown kicks in rapid construction period will begin as large machinery items bolt in quickly for final design…The reticulation of power and water can be added as we head towards the third quarter of startup commissioning…

Regards Croc