excellent quarterly, page-2

Thanks, Anilara1. Like you, I loved the way that management neatly parried the ASIC/ASX blocking of the Scoping Study.

The really interesting bit is that the costs, for initial development, for mining and processing, and for transport to the port plus loading on ship, are all at the bottom end of most of the estimate ranges. Importantly, these estimates are well below published figures for any competitors.

And that is despite the initial planned volume being sharply higher than most of us (including me) had expected. A shipment rate of 220K tonnes of graphite per year dramatically improves the early cashflow situation.

So what does all that mean? Certainly nothing bad!

Quite simply, lower capital costs, lower unit operating costs, and higher volumes, are very likely to make SYR the world's most profitable company in the graphite industry.

Cheers, Prime1