Ann: Study Confirms Attractive Mechanical Shaping Opportunity, page-29

Finally some commonsense amidst the noise. Thanks for sharing your view.

The major contingency to making Epanko a tangible reality that seems to have been dictating the need for "studies" to fill the void for all these years is now no longer an obstruction. That's thanks to Mumma Sumia filling the Tanz Presidency chair with the much needed gumption and integrity necessary to lay the foundations for our destiny! No excuses now (bar the time that is required) to execute EGR's business model and plans. I have no malice towards those leading our team... and I believe that the ground work will hold the company in good stead. The move away from commencing construction at Kwinana was a strategic move in light of changing circumstances.

EGR saw the necessity to revert back to the original business model of being vertically integrated as soon as Tanz started opening its doors. The pressure from OEMs such as POSCO for graphite concentrate right through the supply chain to BAM and battery recycling and the US IRA prompted management to halt the original plans for Kwinana (which were a stop-gap measure to keep the wheels of development moving). The co. had to be flexible and adapt to changing circumstances. Another necessary move was to cut costs in an increasingly inflationary world! We can see from the potential savings to CAPEX and OPEX that operating out of Tanz has a lot of merit.

Whether such an ambitious business model as ours, warrants the reins to be relinquished in favour of someone with superior corporate acumen and expertise to ensure that this gets over the line, or whether AS has enough of the right people now around him to make our (his and SHs') dreams come to fruition, I'm not sure. And that's not taking anything away from AS, because he has been instrumental in building a solid business model, keeping the number of SOI contained, retaining the same network of global associates and all the with a healthy cash balance. The more boxes that get ticked, the closer we get to this becoming a reality and the more the experienced diehard LT holders will want to suppress the SP to soak up shares at their leisure til such time as another trading stock of theirs delivers the profits to push this higher. They may well know that EGR's ultimate goal is about to be executed.. and, if they know when, that's even more disconcerting for those that don't know.