Yeah I think because the BFS is light on detail on this specific...

Yeah I think because the BFS is light on detail on this specific area that it might not sound correct.

My internet is broken at the moment and I only have my phone so forgive me, I'll try to go a bit deeper later next week.

As I understand it, the value in use pricing mentioned in the BFS is base case scenario. It is priced accordingly if an end user should wish to buy raw concentrate, but from the January 20 announcement, the focus was on developing a supply chain as "most battery producers assemble from drop in components as it is the exception rather than the rule for battery producers to purchase graphite concentrate feedstock." While there may be potential customers who elect to purchase concentrate, the primary focus of Magnis is to produce graphite anode material. The Magnis supply chain, in effect, is a customer for value in use priced concentrate.

The April 20 announcement is also another great source in reference to supplying anode material.

http://magnis.com.au/article.php?id=140

17th of June quotes:
"Nachu is well positioned to be a lower cost and cleaner supplier of spherical graphite to lithium-ion battery markets.

The 29th June announcement quotes Houllis as saying: "We are excited by our initial graphite anode with silicon results. Our focus firmly remains on the progression of our shovel ready Nachu project, which is well positioned to deliver coated spherical graphite into a growing market in a timely manner."

Again will go into further in detail later when the internet is back up an running. Cheers