Ann: September 2021 Quarterly Update and Appendix 4C, page-4

Yes, management’s guidance for sales volumes this quarter suggests revenues will be about $3 mn higher in Q4 compared with Q3. Other things equal, that implies free cash flow of about $2.2 mn in Q4. That will finance October’s debt repayment and a recovery in cash balances ahead of the March repayment. Once the debt is fully repaid next year, the company should reinstate a dividend. Since the company has been make debt repayments of over $1 mn annually, there’s no reason why dividends shouldn’t be of a similar magnitude.