Ann: Quarterly Cashflow Report, page-217

Hi 96 Blitz, perhaps you don't understand what the cut off grade means, I get a chuckle when I see tweets mentioning it with obviously little understanding of the concept from a reserves point of view.

Basically what the mine experts/consultants do is determine for your mine what grade is economical to mine, this then becomes the cut off grade. So having a high cut off grade tells you that your mine needs to mine the high grade stuff to be economical and it is in fact likely uneconomical for your mine to mine the lower cut off stuff.

This may be because of issues with your required mine design, steepness of deposit, depth of deposit or whatever but the higher cut off grade actually indicates there are issues that prevent the profitable mining of those lower grades for your mining environment. Note it relates to your mining environment, other operations with a more suitable environment will be able to have a lower cut off grade and still be economical.

So your post is now indicating difficult mining environment for WKT, I believe we have seen some posts on here about the required pit design, steepness of pit walls etc so it does all seem to fit.

Obviously if the graphite price starts to go up then some of your below cut off grade stuff may start to become economical. Let's hope for some good news on that as I feel your project really needs something, there appears to be a lot of holes in the business model to me, perhaps many can not yet see them, your favourite posters are not likely to want to discuss them either and sometimes it's just lack of understanding on what things like cut off grade actually means.

All in my very humble opinion as always