Ann: Supplementary Prospectus, page-143

after relisted and share price stabilised somewhat, I'm trying to calm down and think about what's next. Should i sell, hold, or buy?

Granted the management pulled a few negative surprises with the debt drawdown, extended trading suspension and delay in first production, but did they lied or cheated shareholders? probably no. And we know financing is hard and uncertain for junior mines, maybe even more so for graphite because it is new and opaque to the financiers. I like that the management did not put up a big audacious DFS, just a decent 40k tpa concentrate production with low capex requirement, then focus on building it and get it out to market as soon as possible.

I'll probably wait and see how they are able to cover that AUD16mn funding shortfall before deciding what to do.