WKT New charting, page-492

Hi slick yes sorry about having a different perspective and maybe another coffee we could iron out the differences…The first point I would like to add is Lindi is differentiated into expandable and coatings markets…It can provide into the battery markets as an option but why would they when can receive premium pricing for the expandable and coatings markets…

Its important not just to bundle Lindi in with a down sector as already mentioned Lindi is very unique from resource advantage to end product…The starting point as per DFS is a low cost producer with the highest free cash margins per product ton…US$1200 free cash margins per product ton as opposed to breaking even with low grade projects and high CAPEX…

If the battery and refractory markets were all we had to worry about we simply wouldn’t be having this conversation…I like you would be complaining about the sector rather than understand and seek opportunities.The company has recently done pricing discovery and we’re very pleased…I’m just hoping to have the opportunity not to dismiss but learn more about the project and why it is unique and able to grow with clients as a supplier…It’s not as though any other project can all of a sudden provide a reliable supply into the expandable and coatings markets while being being underpinned by low priced battery and refractory markets…

Regards Croc