Question Syrah must answer, page-14

Just as a commercial side point on natural flake graphite sales, for example it takes approximately 3 to 5 years to sell 90% capacity of a 25,000 -30,000 MT flake mine...it takes time to qualify (3 months to 1 year for traditional applications and up to 4 years for advanced applications), old customer supply contracts to expire, logistical verifications (i.e. timely deliveries, port management, on site inventories if applicable), commercial product consistency ( COA's, COC's, Product spec adherance), move from a 3rd, to 2nd, and possibly 1st tier supplier (6 months to 2 years), and most importantly, HOPING that the competition doesn't react aggressively to maintain the business by lowering prices or successfully extending supply contracts.

Unless you can direct sell to end users (not resellers, distributors, or processors) with an graphite experienced sales force, offer not only traditional products, but a wide range of standard purities (90% to 97% LOI) and mesh sizes (-200 to +50), advanced products that include micronised, high purity micronised (99.0% to 99.9% LOI), and be the first outside of China to build, permit, commission and qualify a plant that can produce expanded and expandable graphite, high surface area flake graphite, a wide range of electrochemistry grade graphite products, and lab facilities to support ALL market and application specification and technical requirements. Included in the plant will be a non caustic, thermal purification plant.

As of today, NOT ONE new graphite start up can meet the entire spectrum of graphite products. Saying you are planning or wanting to these activities is a far cry from reality. That and $3 will get you a flat white anywhere.