Hi all. Solid presentation last night by Brad.Key points for me...

Hi all. Solid presentation last night by Brad.

Key points for me out of presentation and discussions with Brad after his talk.

1. Key interest and expansion of Euro investors in the stock led by Alan Jenks is a huge vote of confidence in the stock. More support hopefully to come, and then hopefully from institutions if we can hold a +$50M market cap.
2. Interest exists from the German owners of the Ancuabe that we have landlocked with surrounding exploration ground.
3. Drilling and trenching results expected next week.
4. Cobra Plains Inferred Resource for this secondary target out in a couple of weeks hopefully. This should see it as the second largest graphite resource in the world behind Syrahs deposit (note slide in presentation). Not bad for a "secondary target" with access to infrastructure compared to the current world's number 2 deposit in Madagascar.
5. Scoping study mid year for Cobra Plains, still waiting on metallurgical work for this.
6. Obviously getting back onto Nicanda Hill is the key, but will need to be funded for drilling.
7. Key interest from end users from Europe, America and the Middle east (recently visited by Brad) will hopefully assist with raising funds via placement at premium(if possible) or sale of part interest in one of the projects (Cobra, Nicanada, Ancuabe, Balama South) to fund ongoing work without shareholder dilution. End users are waiting for the outcome of the scoping study, ie can we get it to port for around $300-400 per tonne, is metallurgy good, a credit or penalty on the vanadium content, % or large flake graphite etc. There is interest in the vanadium as well.
8. Balama South has an apparent historic graphite mine on it not well known about from a newly acquired map. Only recently found out about it. Need more info on this, but sounds like some old timer workings? More EM targets have emerged as well on current licences.
9. Also other target minerals on all EL's to be looked at.
10. A second inferred resource from Nicanda Hill by years end.
11. Brad believes we are catching up on Syrah by short cutting some processes as they lead the way and we can save time and money on red tape etc as precedents are set with mines dept, processes are put in place and TON just has to follow them, rather than doing the hard yards. Maybe we are only now 12 months behind them according to Brad.
12. We have some infrastructure advantages over Syrah, easier access to main road, 2 less river crossings that got washed out to Syrah's deposit we don't have to deal with.

So by years end the plan is to have one or more end users signed up (which will mean funding), a Nicanda Hill Inferred Resource. The key driver is the end user sign up via in a project to provide most funding and minimise dilution via cap raisings. Possible SPP with funding to reward long term share holders as well. All dependent on ongoing positive results and market sentiments.

Hopefully got it all summarised correctly!

Mino.