Ann: Quarterly Activities Report, page-12

Hi Spid

For me the answer to your question is a qualified "no", but with the proviso we might see a small amount of revenue turn up from the odd research sale.  I doubt we will see a significant jump in revenue given no contracts or offtake agreements have been announced.

Under most of the collaborative R&D agreements (where both parties would share the IP) my guess is Talga stumps up the graphene at peppercorn prices to get research underway in the hope it might lead to a commercial deal.  Where a "partner" does it's own research I assume Talga provides a small sample for free and then if the result shows promise sell additional quantities on the cheap.

My sense of it is that this is the strategy they have pursued to date.

So, until there's an offtake agreement I'm not expecting much in the way of sales revenue.

Is their business model flawed, no I don't think so.  Is it frustrating to have been in a holding pattern for so long...yes!  From all the research notes that have come out it is clear that each end use calls for a highly specialised product and it takes time to get that right.

That said it would be nice to know if we are getting closer to a deal with any of the applications we've heard about so far.

Good to see some upward movement in the price today.