Ann: Black Rock Mining Shareholder Presentation-BKT.AX, page-3

from today's MNS presentation for comparison with BKT when BKT announce their results:

Use of +150 micron feedstock drivers higher spherical yields ― Commentary suggesting <150micron material  “required” for spherical production is incorrect and is based on current Chinese supply chain which yields 30-40% spherical graphite from natural flake

To support strategy Volkswagen anticipates fleet requirement of ~150Gwh by 2025 ― Equates to ~165ktpa anode material or ~165ktpa spherical graphite

Processing recovery of 92% ― Final average concentrate purity of 98.3%

> 99% TGC and up to 99.6% TGC from basic flotation for sub-300 microns concentrate

Discounted net basket price (US$/t FOB) 2,350

Magnis may supply both coated and uncoated spherical graphite subject to customer requirements ― Coated Spherical Graphite @ >99.95% C ― Uncoated Spherical Graphite @ 99.90% C

Nahcu graphite battery anode performance tests delivered the following outstanding results ― Tap Density: 1.21 g/cc ― BET: 1.908m2/g ― First cycle efficiency: 95% ― First charge capacity: 354mAh/g