Thanks ,
Phase 1 is not a pilot plant. It is a permanent mine capable of producing 15,000 tpa of graphite. The US$7M was for just the processing plant. The extra US$3M is for sustainable infrastructure at the mine site to make Phase 1 have a mine life of 93 years. Phase 2 would be the expansion of the mine to 50,000 tpa and would happen as market demand requires.
Respectfully, Mr. Fulp has never been to Madagascar and is incorrect. The Molo certainly has value or Mgmt would not be developing it. He is also has no knowledge whatsoever of our project The mine site is easily accessible by serviceable roads that do not require any upgrading for our Phase 1 mine plan. This road is part of a regional road system that goes right by our deposit and to the port. This road system is called Rue Nationale 13 (Regional Rd 13). This is not a paved road but a dirt road. The paved road begins about 30kms from the port. Rice, agricultural and dimensional stones are trucked to the port daily by local trucks and these trucks go right through our camp.
Mgmt is in full agreement on your share consolidation point. We would only (and may not even) consolidate only if we secure full funding for mine construction, which will immediately trigger an off take agreement. We all agree that it would be done only after a major catalyst.
Regards,
Brent Nykoliation
Sr. Vice President, Corporate Development
Energizer Resources Inc.
145 Wellington Street West, Suite 1001
Toronto ON M5J 1H8 Canada
Tel.: +1.416.364.4911 ext.305