Ann: Response to ASX Price Query, page-2

Hi ASX,

We have no clue why our price fell 2.5c on less than 500K volume EVEN THOUGH we came up with an announcement that would have made any of our competitors' share price jump up by 25% even if they were already on a much higher market cap.

Normally our share price doesn't run up because we are a Tanzanian based company and as you know that all Tanzanian companies are "doomed" - for the want of a better word (I know you will say "what about WKT?" - before you ask that, why don't you ask WKT why their share price is 300% higher this year? ). But the last announcement was PURE AUSSIE FOCUSED - we even mentioned we are going to source the graphite from anywhere we can get out hands on - YET THE SHARE PRICE TANKED TODAY.

Can I please request ASX to look into this matter and find the cause of this 2.5c drop in share price on < 500K volume. something is not right and we, as KNL management, have no clue. There are some rumblings on a stock forum called HotCopper ( I am sure you have heard of that lot) and there is a thread asking for the management to IMPROVE THE PR (not sure what "improve" means and "improve the PR" as a phrase means nothing to us).

Yes ASX, we have potential. Oodles of them and that too since 2015. Yet our share price has NEVER reflected this. We have Binding Offtake (non-Chinese at that), Comm Bank as a BIG INVESTOR ( we are told this is their only graphite play) and we have German government bank guarantee. After all these and after 37 Investor Presentations in cities no one ever dares to promote, we have not reached our potential. Not even half our potential. At times we do seem to get it right and run up by 4-5c - only to hit something we are called "iceberg sellers". Can you please explain to us what these "iceberg sellers" are? Iceberg lettuce - YES we know them. Our Coles and Woolies stock and sell these iceberg lettuce, does it mean that they are the "iceberg sellers"? Please help us out.

So to summarise your "Please explain why the price dropped 2.5c on 500K volume" we end this with a very well known phrase - "WE KNOW 'NUFFIN' ".

Yours sincerely,
The KNL Management