Project information with Graphitic Schist iterations, page-11

Finally Steve you are starting to understand the Lindi project. The dominant host rock of WKT'S Expandable Graphite is Graphitic/Schist. Graphite/Soft and Schist /Medium. Sorry but the word hard doesn't come to mind when I think of the feed grades being delivered to the Lindi processing plant.

***The classification for SCHIST is a medium hardness rock. It will be comprised of some soft minerals and some hard minerals and its hardness will be determined by how it was formed but also by the depth in the ground and the resultant pressure.***

WKT'S LOM 17.9% TGC with cut off grades of 10% is a luxury only afforded the Lindi project. Drill results show Lindi's tennament is open in all directions. The pit shell mine design was chosen as it's a hugely profitable stand alone mine supported by a rigorous Pareto's DD process. The pit shell is profitable from surface to base level as TGC increases at depth. Southern drill results not included in updated DFS as project already highly profitable. WKT'S ability to stock pile specific feed grades and process this material at a later date is another luxury afforded this world class project.

***Your schist is NOT going to simply fall apart as you make out. There will be softer areas and harder areas. There will be areas that split along the horizontal plane and areas where it doesn't. No ore body is uniform throughout.***

In summary : 1/Drill results open ended in all directions. 2/ 24 year 19.7% TGC LOM only on pit shell mine design. 3/ Ability to select feed grade. 4/ Stock piling for processing at a later date. 5/Dominant host rock medium density Graphitic Schist. 6/The invisaged blasting of feed grade is a 50/50 proposition. 7/10% cut off grades supported by the ability to stock pile is unmatched by this superior graphite project. NLN.