Potential?, page-7

For me I think this is the order it will go,

1. 100,000 tonnes of graphite ore per year mine permitting gets denied or approved.
2. 19.5ktpa Offtake agreement that will push share price up substantially.
3. Then Mitsui capital raise at a 12.5% discount to current SP.

My share price forecast:

• 19.5ktpa mine permitting granted expecting 684 Million market cap with Share price of $2.25 with 304 Million Shares outstanding.
• Off take agreement for 19.5ktpa expecting 1.2 Billion market cap with Share Price of $4 with 304 Million Shares outstanding.
• Mitsui Funding at 12.5% discounted SP. Issue 67 Million new shares at $3.50 to raise 235 million.

1.3 Billion Market cap at Share Price of $3.50.

So after the SP rally with the offtake agreement news, good to get out at $4 before the capital raise at discounted SP.

In 2023-2024 we are expecting the detailed feasibility study for 84ktpa Active Anode Material. This is where will see the big SP increase.