WKT graphite update, page-3

Great post to kick off.

Management have done an excellent job in securing the Mining Licence, that has come about with precision in the processes, dedication and commitment to the project and the company. Yes, when all the other companies have started receiving their ML it took a little shine off, however WKT was still the first ASX company to receive the ML for 2018.

I think people misunderstand the roles of management and the board and what good corporate governance is about. Its what provides an additional layer of comfort to shareholders, investors, clients and funders. There is meant to be a distinction between Management and the Board.

The Board is to provide guidance, checks and balances and be a voice of reason and to aid management by providing a level of oversight that is in the interest of all shareholders and the company. That is certainly much more difficult to do when management and the board are the same. Good corporate governance is essential and I and others have certainly advocated for their to be changes to the board structure in the interest of better corporate governance and shareholder representation.

Management are busy and working behind the scenes, which I and others certainly have no cause to think otherwise. I do expect they would be using every available resource at their disposal in order to achieve their mantra of wishing to be first to market.

Funding and Offtakes - Its the Chicken and the Egg concept, so the 2 must come hand in hand unless they can achieve alternate funding preferably without dilution or a package with buy back rights or other financial instruments to get us funded.

Funding and Binding Offtake terms and details will be highly commercially confidential, understandably when it occurs it will be a simple version we get.

Off takers - Again these terms and the pricing is done predominantly in the private space and not typically on an exchange or in a public space, which is why again this is complicated and has it own inherent challenges that the company has to navigate and deal with.

When it occurs I will not be surprised if we see the offtake agreements with the client details withheld from the market and the terms of the pricing will most likely be clouded with figures and discounted rates that wont be confirmed to the market. (Typical scenario of other ASX companies) This will most likely be done IMO to protect the client and to protect the premium pricing modeling.

I don't believe the progressing of the other tenements is having an impact on the progress of Lindi. The other tenements around the world, I have already stated before that if you remove all associated announcements it would have been a very painfully boring and slow period of news flow since the GoT debacle started. Unfortunately the ML delay as a consequence not only frustrated everyone, it has cost the company a lot of time and $$$ and is was certainly beyond managements control.

Small outlays to progress rock chip samples, permits, land access etc that all takes time is something I support. They are worth exploring in a very cost effective manner and rock chip sampling is least expensive however the process of collection to lab results can take considerable time. It still needs to be done, after all this provides an opportunity of finding something significant to investigate with more precision.

The Lindi DFS upgrade will certainly be interesting to see their projected modelling and if there is further potential of the resource expanding further yet again. Looking forward to the modelling of sustainable tonnage of concentrate over the mine life and any cost reductions and efficiencies associated is just a bonus on a robust project to begin with.