Wilma in mid to late 2016 we were still the only graphite...

Wilma in mid to late 2016 we were still the only graphite company with western offtakes persuing western debt finance with announced interest from major lenders. We were lucky to have two interested parties at the time. At a time in 2016 when juniors on the ASX graphite scene were going for resource size and over the top mine outputs and also Chinese offtakes looking for a quick surge in share price when announcements relating to graphite went gangbusters. I am proud of the decision management took in 2014-2016 with the smaller mine output approach and all round western approach. Western debt lenders weren’t exactly throwing themselves at graphite junior hopefuls. Syrah chose to go the equity raising route. We’ll see over time which method proves best for shareholders. I think the equity raising for Syrah was around their current share price at $2.30 from memory. Updating the Kibaran BFS and completing the RAP all part of the course. De-risking as we go. I am feeling a very good twelve months coming up for shareholders.