The market will value the graphite at no more than a few cents until all the sampling and potential end-user qualification has been done. This process takes a minimum of 2-4 years.
Without scoping/feasibility studies, the graphite is still just dirt in the ground.
No form plans for digging it, no firm plans for processing it and importantly no firm agreements for buying it.
Future Cashflow & Rerate!!! ( cashflow projection @ 12 September 2017 ), page-131
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