Ann: Tanzanian Update on Nachu Graphite Project, page-110

How do you figure it’s $3 million? You had almost nothing, then raised 5 and spend 2.5 on the equipment and something like 2 on a stake in one of your partners. Not to mention the undisclosed costs of moving and installing said equipment, which will probably end up being multiples of what you spent on buying it.

If that’s the case you probably have just as little as the other graphite stock you speak of.