Positives 1.The critical pathways to project completion have...

Positives

1.The critical pathways to project completion have been significantly de-risked with no net cost overruns on works performed to date.

2.Lindi Jumbo received a commitment from CRDB to allow for a 1 for 1 drawdown on the posting of cash as collateral. 150M share increase. Walkabout may not require the full amount to be raised through this Rights Issue and the Board reserves its right to scale back applications under the Rights Issue.

3.The Company has recently signed a binding sales, purchase, and marketing agreement with Wogen for the supply of all exported graphite production from its Lindi Jumbo Graphite Project in southeast - five years.

4.The ore reserve of 5.1Mt @ 17.9% TGC for a total of 987,000t of contained graphite is based on only 37% of the Measured and Indicated Resources. This is also the highest-grade undeveloped graphite deposit in Africa.

5.Fine flake graphite concentrate (-180 micron), Lindi Jumbo has been approached by several parties seeking medium term offtake of fines material. This may result in product pre-payments as the project gets closer to production / spare capacity for sale.

6.With a cut-off grade of 10%, nearly 8.0Mt of low-grade graphite ore averaging ~ 6% TGC will be stockpiled over the life of the current mine / extend the mine life for a further 26 years.

7.Exploration Target of between 15Mt to 29Mt and an additional 35Mt to 71Mt within a 20km radius of the current mine.

8.Middle Eastern group is considering a 50/50 joint venture to produce graphite foils.

9.The Company holds 100% of the Kimoingan Graphite Project in Northern Tanzania. It has an Exploration Target of 22Mt to 72Mt of medium-grade large flake graphite / supplying graphite to the battery anode supply chain.