Ann: Siviour Drill Assays Highest Grade Graphite to Date, page-31

Not a bad announcement to bring me out of hibernation (On Holidays at Present). Thick intercepts of up to 45m, shallow (at surface) and continuation of current mineral resource area.

I particularly like the couple of holes we plugged in a few 100 metres to the south that came back with a 17m intercept (Massive exploration potential in 12-18 months time if the company wishes to embark on a whole of tenure 30-50,000m drill campaign once siviour is on its way in construction

- Current Resources sitting at 87.4Mt (I expect that will increase towards 100Mt following the recent in-fill + step out drilling)
- Most importantly the volume of tonnes in the higher Indicated / Measured category that can be utilised in our updated feasibility study will increase from 54Mt up to I suspect around ~70Mt)

This will support a significant expansion to planned throughput within the BAM study. I'd expect that GR Engineering / Wave will be contemplating a ~30 year mine life in 2 stages.
Stage 1 (Year 1 to 4) - Model a throughput of 1.65Mtpa producing 150ktpa of Graphite Concentrate
Stage 2 (Year 5 to 29) - Add an additional crusher circuit onsite with throughput of 2.47Mtpa producing 225ktpa of Graphite Concentrate