Ann: Increase in Montepuez Graphite Reserve, page-7

My expectation from what is reported in the investor presentation is a combination of equity and debt.



The debt would be largely dependent on figures reported this week so would assume any potential debt financiers are looking at those figures now.

The Balama DFS will give a longer term picture which is relevant for equity. That is due this month. Would then need perhaps a week for those numbers to be digested for research reports before brokers shake their tins.

I’m not holding my breath. Updated mine plan for Montepuez was more than 1 month late.

So maybe January or February but preferably before the next quarterly reports at the end of January.