Capital Structure

As at February 2017

ASX Code
Shares on Issue 525,956,516
Unquoted Performance Rights* 14,000,000
Options# (Weighted Average Exercise Price $0,1075) 154,819,173

* Vest upon Mustang proving a JORC Compliant Inferred Graphite Resource of a minimum of 50 Million tonnes @ >5% Total Graphitic Content, on any of the Balama licenses on or before 31 December 2019

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