Ann: Updated DFS Confirms Standout Graphite Project, page-9

Wow the high grades allowing a 77% margin makes this project extremely robust. Even at 30% reduction in revenue the post tax NPV is still over us$100m!

A sensitivity analysis was performed in order to determine the economic robustness of the project. The analysis determined that the project is most sensitive to changes revenue for both NPV. However, a 30% reduction in Revenue, representing a basket price of US$1,000 per tonne, well below current prices, still returns a post tax NPV10 of over US$100m.