All, I've been scrolling through these KNL threads for a few...

All,

I've been scrolling through these KNL threads for a few months trying to come to terms with the ins and outs of the graphite market and was wondering if someone could help me with a few questions I have about KNL. The risk reward tradeoff has intensified in recent weeks and I feel there could be some good gains to be made.

The first are to do with TK and the LOI. - A quick google search of TK LOI bought up some interesting things.

1) TK signed a LOI with Arafura resources about 2 years ago that has not been turned into a binding offtake yet. I did notice however that Arafura have been plugging the german debt markets for funding which I can only assume os being promoted in some way by TK.

2) TK also signed a LOI with Flinders resources (Flake Graphite mine under care and maintenance) in October. On the face of it I am dealign with a few issues. 1) As we do not know what TK's demand for product is, they could be offering assistance to both but in reality only need one and although Flinders flake/ purity isn't as great as KNL's, they still have a LOI and a mine which is significantly advanced compared to Epanko. 2) Future product demand within TK is large enough to warrant two off takes, also FLD mine is has a smaller resource than Epanko

3) Does anyone have or know where I can see pricing for flake graphite by grade size? I found a website but you got to pay. Will do that as a last resort.

4) Mining License/ Tanzanian Government - What are royalty rates like, have any other companies had trouble in recent years with that process.

5) Infrastructure into and out of the Epanko deposit (Water, Electricity, Transport) - The scoping study wasn't overly clear about the costs/ accessibility of basic infrastructure requirements and like all mining operations, they closer you are to them, the better your cost base will be. Has anyone been there?

My big dilemma (in regards to buying) is seeing any real catalysts to move this SP significantly until the feasibility study comes out. Weakness in the SP s slowly continuing week by week (which could be due to a raft of different things) and entry is always so important for returns. its always tough picking a bottom but its a nice thing to do.

6) Have management successfully developed a mine before?

Thanks for anyones help/ insight.