CR, page-33

"Average Sales Price USD$1,400 (per tonne of graphite concentrate)"

There are 4 graphite size /purity grades and prices vary enormously between them. If USD$1,400 is the average of the 4 grade/purity prices then that is an excellent price, it means that company is getting top dollar for its product (actually seems too high to me but I'll take their word for it). To calculate the profitability of the project we also need to know the proportion of each of the grades that are being sold. In other words you could have a high average price for products of different grades but if the company is mostly selling the lower grades then the profit is far less than if the higher grades make up a bigger proportion of the sales. For example if 70% of the product is -100 and sold for $700 with the higher grades making up the other 30% then the company is not nearly as profitable as it would be if you reverse that, 30% low grade with 70% higher grades. Of course the COP becomes critical is the company is mainly selling the lower grades, as it may be at this stage of its development. As I speculated before that could be why the BFS has been delayed while they rejig the COP. However, with a high average price of USD$1,400 the future of the company would be assured because as it produces the higher grades its profitability will take off.