Epanko scoping study clarification

I do not need to repeat my sentiment regarding KNL (in fact I topped up today @ 25.5c). However I believe I may have found a factor as to the company's share price performance.

I have looked over the updated Epanko scoping study and would like to point out an error regarding the graphite pricing table that was used for the study on the bottom of page 5.

Notice how they refer to 'Jumbo' flake graphite as >300 microns which is 50 mesh (refer to the attached for micron to mesh conversion) http://www.showmegold.org/news/Mesh.htm). They then show that Epanko has 21.6% 'Jumbo' flake.

However if you refer to the bottom of page 4 and indeed in prior company announcements you will notice that in fact not all of this is 'Jumbo' flake; 13.2% is 'Extra Large' and only 8.4% is 'Jumbo'.

Now the Stormcrow 2020 prices treat 'Extra Large' flake as 'Larger' flake in their pricing model. So as a result, the graphite pricing they used should have shifted 13.2% from 'Jumbo' flake into 'Larger' flake.

I have updated the table for what the correct figures should look like:

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7
0
1				CURRENT GRAPHITE	STORMCROW 2020
2				PRICING		PRICES
3		FLAKE SIZE	EPANKO SIZE FRACTION	PRICE (US$/t)	VALUE (US$)	PRICE (US$/t)	VALUE (US$)
4	Jumbo	>300 microns	8.4%	$    2,300	$    193	$    6,175	$    519
5	Larger	>180 microns	41.8%	$    1,300	$    543	$    1,165	$    487
6	Medium	>106 microns	23.6%	$    950	$    224	$ 517	$    122
7	Small	>75 microns	10.4%	$    750	$ 78	$ 493	$ 51
8	Fine	<75 microns	15.8%	$    550	$ 87	$ 359	$ 57
9	Weighted Basket Price				$ 1,126		$ 1,236

Please note that these prices provided by Stormcrow are conceptual in nature and by no means would reflect precisely graphite pricing in 2020. It is significant however that the basket price in 2020 is a third less than what the scoping study has displayed.

I very much look forward to any comments.

Regardless of this fact I am looking forward intently to the second Epanko off-take being announced and Merelani coming on board.

Cheers