VIllage Square meeting II (byo pitchforks), page-28

Maybe it was the lack of offtake partners at the time giving a vote of confidence to match the proposed output numbers of graphite tonnage mined that put off the banks in SYR's case. We will never know. The whole process as funny as this may sound was not anywhere near as transparent and clear as KNL's method and process to debt funding. This is where KNL's boutique style will pay off in my opinion, as long as the banks which have been named from the beginning (as opposed to SYR), agree with our BFS through their own due diligence once this technical review is completed. We were after all bankable in 2015 according to the engineering firm's due diligence and they must have been happy enough to approve and therefore take on the legal ramifications if a bank was to fund us only for the whole business to go belly up. It is worth noting and I am sure the bank's due diligence process isn't going to begin only when we hand over the latest BFS. There would be ongoing due diligence and correspondence with kibaran employees especially since August last year and the process for RAP became clear, therefore making the BFS more in line with the bank's needs/requirements.