new article, page-7

3 things about Malawi - poor - corruption - very long time to get anything done (usually an envelope under the table is required to get anything done - it is common practice in Malawi).

Exhibit A - There is still no confirmation/clarity/implementation of the new mines and minerals bill. Is any company going to complete a DFS until they know exact taxes/royalties/exemptions/etc.

Exhibit B - there is no binding agreement re transport logistics. Again the DFS can not be completed until that is signed off.

Exhibit C - There is no grid electricity available. Diesel and solar combination being costed.

So yes it is all to do with Malawi. If they had a mining bill - if they had electricity - if they weren't so corrupt things would progress more rapidly.

In the meantime things are tracking nicely with everything SVM can control. They have recently announced extra tonnage with blending - they have recently announced battery grade graphite quality - they have recently announced optimal pit design with savings achieved using in pit tailings dumping.
They are in dialogue with govt - they are in dialogue with locals - they are completing a very comprehensive environmental assessment. THIS MINE IS ONLY 15 km from a capital city - not out in the never never. They are in dialogue and have provided product to end users etc etc.
I would say they have achieved a lot in a very short time - yes the SP does not reflect that at present.

They just keep ticking boxes however the big boxes as always will take longer for various reasons. They stated mining in 2020 and I believe this to be achievable but as I stated previously - I don't mind if it takes 4/5 years as this is so important to get right for future developments. All reports suggest graphite demand will only increase exponentially in the meantime.

I don't expect management to be concerned about about a few whining share holders looking for a quick dollar. The big picture is all important.