Large Flakes Graphite prices are rising !, page-117

Hi, exploration requires money, faster exploration results requires even more money. One of the mentioned uses of the capital raise is to explore Andapa. IMO once they finish refurbishment and start recommissioning / production, they will put more money/time/resources/efforts into Andapa exploration (graphite) and Millies Reward (Lithium).

Probably until now they are using one small drilling machine with 4-6 employees of the company max deployed on-site living in a campus (they have more than 100 employees but most are busy with civil works and refurbishment activities), how many holes per day they could drill in Andapa (10m shallow drilling) ? 1 hole ? 2 holes ? 3 - 4 holes max in a good day ? (they need each time to move the drilling machine) to a new target.

They commenced drilling 8 august 2017, assuming no interruption 6 days a week drilling :

202 drill holes (2000m / 10m per hole)
Average 2 drills per day (one in the morning and one afternoon)
They need : 101 days / 6 days = 17 weeks = 4 months and one week.

They should finish end of november / beginning of december

Then there is assaying the samples (1 month ? 2 months ? it depends if they do everything at once it is much slower than if they send samples by batches, for example each 50 drills, 4 batches, and then if they do it at their own laboratory (faster just assaying % of total graphitic carbon) or exterior independant sophiticated laboratory (e.g in south africa) for more precise and thorough analysis of all elements contained in the graphite (slower process), it depends also if they will announce resource estimate + drilling results at the same time (it takes even more time to calculate the resource estimate).

Anyway, hopefully before the end of 2017 we will get the results.

Hope that helped,