Ann: MACINTOSH GRAPHITE EASILY ACHIEVES 5N's PURITY, page-24

Just had a second read of the announcement.

IMO here is the key sentence of the announcement, and I quote our MD.

" These test work outcomes provide a very sound marketing platform in terms of product specification and revenue assumptions and we consider we are now in a position to finalise a number of marketing agreements.”

As I have heard from someone close to the company, HXG are playing a patient game to ensure that the very best outcomes for the company in terms of the off take agreements that they are very close to finalising. Post these lab results, the company is in a position to conclude marketing agreements on their terms based on the belief that McIntosh graphite is special and will be seen as such by key players in the market.

For those of you wanting to really understand the potential of McIntosh, print off the announcement, find a quiet corner and read it.

By the way, all credit to Mike and his team. This guy is conservative, yes, but class.