DFS upgrade wont be far away now. Interesting they have...

DFS upgrade wont be far away now.

Interesting they have remodelled the entire pit design because the economics are so robust, so robust that our cut off grade is now 10%, which will be why the delay in the Ore Reserve Update and DFS upgrade yet to be announced. NLN.

Binding offtake agreements cant be be far off.

As the modelling is predicting 25% for the battery market that equals 10K TPA - WKT not likley to be entering any binding offtake agreements for this product. IMO we will get better rising spot prices as battery demand is increasing and will continue to do so for the next 10 years.

The binding offtakes in reality is going to be for only the remaining 30K TPA suitable for the expandable market where we pick up the premium prices.

Our 40K TPA is a SELF IMPOSED target and does not reflect the fact that we have plenty of room for further expansion to the north and south to increase our TPA as demand grows for the expandable market, which will speed up in the fire retardant building materials that is occuring now.

Further expansion again on our adjoining PL that has a 4km strike with higher grades than Lindi.

Moving forward the DFS upgrade will be very influential now in the debt financing as this is what the finance bean counters will want to interrigate.

Interrigate away, they will certainly now see Lindi Jumbo Graphite Project is a very robust project.

Looking forward to the DFS upgrade - NLN