Ann: Valence Signs 3 Year Graphite Sales Contract, page-16

The price has already dropped as I predicted, this is not the ann we were hoping for. So the company can sell their large flake, a fraction of their production, but only at low prices. Even i am surprised at just how little they got for their premier mineral, the creme de la creme. They are hard on the heels of Flinders Resources to suspend operations now. The big question is whether the lenders will buy the story and decide that they can get their money back. I was positive on the loans before this ann but now I'm not so sure.