Ann: Response to ASX Price Query-FGR.AX, page-27

Why FGR?

 Two granted Mining Licences and 39,500 ha of Exploration Permits covering known vein graphite deposits
 Highest grade graphite in the world (~90 - 99%) contrasting with typical 10% grades of flake deposits
 Vein graphite sells at a premium price over ordinary flake graphite
 No risk of market oversupply
 Ideally suited to high growth premium value applications such as Lithium Ion Batteries used in Electric Vehicles (EVs) and green energy storage
 Currently developing the first two mine shafts to produce DSO (direct shipping ore)
 Recently, a large high grade intersection of 1.72m could be a company maker Graphene – lowest production costs
 Potential supplier of lowest cost graphene in the world
 High conversion rate of graphite to graphene > 80%.
 Quality and process design confirmed by University of Adelaide.
 Large platelet size graphene averaging 30-40 microns, up to 100 microns
 25-50 times uplift in value on conversion of graphite to graphene, depending upon pricing
 Potential to be the key supplier of low cost graphene to world market
 Low cost base will be instrumental to the acceleration of graphene usage in industry