Ann: Balama Incident and Rectification Update, page-18

I have been thinking more about these 2 incidents overt the last 2 weeks - and they both reflect poorly on Syrah.

Failure to order essential items
Welding (?) fire incident during preventable maintenance

I strongly support the strong Mozambique workforce as it is very important to support the local community but it actually reflects very badly on them as inexperienced workers, or is it inexperienced management... either way it isnt good.

There have been other management failures as Syrah has got to this stage....

We have BAM set up ahead. It is becoming increasingly difficult to feel confident about that project given the poor performance so far by Syrah management.

I did take up the SPP.... but will take up the Computershare option of exiting. Not sure I will reinvest more at this stage.