Letter to shareholders, page-78

What nonsense JPS.
The refining work is the last needed . With results in the first few weeks of June that's virtually now, and the moisture analysis on the two locally sourced coal samples, results in July. My conversation with the good doc was very different to your statement. Things are moving on nicely. Stop down ramping. Its getting old.

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30 May 2018
TESTWORK PROGRAM PROGRESS UPDATE
Kogi Iron Limited (ASX: KFE, "Kogi", "the Company") is pleased to report on the progress of metallurgical testwork associated with the commercialisation of the Agbaja Cast Steel Project in Kogi State, Nigeria.
Additional supplies of reagent materials were required to conduct enhanced bulk refining testwork and these have been delivered to our consultants in South Africa and testwork by Mintek has recommenced.
It is anticipated that this refining testwork will be the last needed, with results expected during the first few weeks in June.
Similarly, chemical and moisture analysis on the two locally sourced (Nigerian) coal samples is in progress in the Torex laboratories in Russia. This will be followed by rotary kiln testing. Results are expected to be available in July.