they are certainly currently drilling for two purposes: (i)...

they are certainly currently drilling for two purposes: (i) expanding the resource, particularly at the Cascade deposit & (ii) upgrade the existing resource from 'inferred-indicated' status to 'indicated-measured' status, which is necessary for the current Pre-Feasibility Study & defining a mining reserve

BKT must also tick the following boxes:

(i) their graphite concentrate must successfully producing spherical graphite (announcement this month)

(ii) the spherical graphite must successfully produce 'anode' for conducting electricity

(iii) secure off-take agreements

if the above boxes are ticked, financing will be a breeze

their previous Scoping Study considered a 52,000 tonne pa production scenario however, like happened to MNS, the BKT plans are obviously changing fast, imo, as they produce top-class 99%+ battery grade concentrate

based on the size of the current resource & quality of the ore, my guess is if the battery grade concentrate boxes are ticked, the PFS will base itself on (at least) a 100,000tpa operation

imo, a 100,000tpa operation is ideal

imo, a 100,000tpa operation can be an 11 to 20 bagger from here, long term, which is dependent upon the quality of the concentrate for sphericising BKT can produce & therefore receiving a premium price (unlike the scoping study, which was based on ordinary prices)

if they can match the MNS quality, a 20 bagger. if they fall between SYR & MNS, an 11 bagger

regards