Yes quite clear there is a minimum margin of $1,000 per ton so minimum EBIT of $50m for our own half of production. So at the low end no growth PE of 10 we have a minimum 10 bagger form here in 2 years. Easy money. If we add value to 100% of production as opposed to 50% as alluded to by Mike our margins will explode.
Ann: Graphite & Graphene Conference (LONDON) - MD Presentation, page-9
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