if we measure progress, and we measure where we are, and the...

if we measure progress, and we measure where we are, and the pull back in the sp, we need to also look at the sector, the market, as well.

since FEB the trade ware has smashed spec stocks, money flow turned off. Did US funds turn bearish ?

While it is also coincidental with the WGX debacle, that derailed any momentum upwards, it has to be asked, could TON have been immune to the down draft that eventuated across the boards.

So consider that we arent in as bad a situation as many of the asx specs, as we stand come finance to be placed into a select few who have the cash/ come debt, to advance.

Making development progress, (pending issuance of mining approval) into supply of fire retardant large flake graphite, as well as Nicanda Hill Vanadium JV. - where does the market turn when there are so few stocks able to make real tangible runs ?

Credibility of confidence to transition. - forget jurisdictions that impede.

Why would we have any offtake agreements at all, if the world could just ask Syrah to fill their baskets ?

Perhaps our grade is quality specific to suit certain customers needs.

Come Nicanda Hill JV, and we have a minority interest in a world class Vanadium operation.
That also cometh credibility of confidence to transition.

In a bear market, you really need to fine tune the tangibles of what separates the wheat from the chaff.