Lindi Jumbo Project NPV, page-15

This is the problem GL77...A lot of money was invested in peer projects before graphite was better understood...So many mistakes made early on with a focus on high NPV as opposed to optimising a project...So much for others to lose as we take the first-mover advantage...First project to be debt-funded outside of China....$$$

The Reserve stockpile has value and could supply 25,000 TPA per annum...Unfortunately, this would be the tail wagging the Dog so to speak...Even at free dig the does not justify expending capital into a lower margin option...

The Lindi project differentiated to peers by underpinned by premium expandable and coating markets...75% of the product is suitable for these markets...The unique Chemistry
and high-grade domains separate our project on stand-alone mining principle...Downstream processing will be the icing and any connection to this is game on...



Regards Croc (Riding a wild Bull toward full funding...) Tick tock