David Flanagan giving BAT a kick on Twitter, page-155

No specific timeframe in announcements for finance but update of Montepuez mine plan could be a factor. This was expected late October ( 3 weeks late so maybe soon? ). This is
of particular interest if grade improvements improve economics.

Importantly we still have 20% capacity in the original production plan for a further Offtake. Grade improvements may allow production capacity to be increased and scope for further Offtakes beyond 100ktpa.

We also had the appointment of Nick Stevens to assist with commodity marketing:

https://www.batteryminerals.com/about-us/leadership/executive-management/

Hopefully this is a key factor in filling that offtake gap ( although we already had 80% of the 100% capacity covered by binding offtakes ).

For longer-term upside:

• DFS for Balama due this quarter
• scoping-study level results for Urbix spherical graphite due to be reported early in 2019
• environmentals/permitting applications also commence for Balama soon
• Updates on vanadium probably not until after Montepuez finance is sorted ( not a priority ), but they previously indicated initial test work completed will be input to a scoping study.