Ann: Syrah Sales and Marketing Update, page-48

Has any graphite been confirmed shipped to China yet? This can be done by reviewing the BOL's from the port of shipment. EV and battery storage are not new they have been around for many, many years...from my understanding To date, Syrah has produced fines and nothing else and when the first quarterly cash flow is released since operations began will be a tell tale as to the ASP.

Fully aware of the Chinese efforts on environmental since it first began in 2005, when moves were made to improve air quality prior to the 2008 Olympics.

If supply was critical, more start ups would be financed by now and only one has achieved this through equity....not one has been debt financed...maybe the banks and lending institutions missed the memo on graphite supply being critical? I think not.