Ann: Quarterly Cashflow Report, page-3

those admin costs are ridiculous, the comments on funding from the quarterly are not exactly promising. Lots of talk of potential no mention of preferred funder option ....

Montepuez Graphite Project – Project funding process

During the March 2019 Quarter, Battery Minerals has continued to advance its funding process, following the appointment of Origin Capital as financial adviser in July 2018. During the March 2019 Quarter, Battery Minerals coordinated a number of site visits for potential project funders and investors, along with numerous presentations to potential project financiers. Origin Capital is working with Battery Minerals in discussions and negotiations with potential project financiers as they carry out due diligence on the Company, its projects and the financial model.

As part of the funding process, independent technical adviser Bear Dolbear Australia has conducted a thorough independent technical review of the Montepuez Graphite Project. This review included a site visit and technical assessment. In addition, Benchmark Mineral Intelligence has conducted an independent market study and analysis. These reports have been made available to potential project financiers with a view to accelerating the funding process.