Ann: Investor Presentation, page-665

For normal folks, not the agenda driven peddlers of misinfo:

Regarding shipping, storm in a teacup stuff.

All it takes is have a listen to the recording of March investor meeting.
Mike/Andrew's comments about China being the center of the universe re graphite beautification (including expandible products) also refers to that in the past, what China produces, it consumes, and since production and consumption is all within China, you have 2 market prices for graphite, one within China and one outside. Typically the one outside of China is higher, this is partly due to the shipping (given it's mostly produced in China) and it's been going up since the pandemic.

However China now is a net importer of graphite, and inventory is at an all time low. This means, the price differential going forward will no longer be the case and the in-China prices will converge to the rest of the world price.

Now in terms of actual cost of shipping, the rate shipping from China is high, various reasons eg lack of containers. Not as bad shipping from Tanzania to China (if the Chinese offtakes are finalised). This is more a reflection Chinese manufacturing strength throughout the pandemic current outbreaks notwithstanding. Shipping lane from China to the rest of the world has never been busier, and this is from WKT's own experience shipping plant equipment to Tanzania. But luckily it is EPC contractor's responsibility.

WKT offtakes are framework agreements without a locked in price. The fact that WKT managed to secure debt funding without priced offtakes, gives strength in the current market negotiating pricing mechanism prior to production. Had prices been locked in 3 years ago so would any pricing upsides. This is credit to the management who had the foresight. As for the other hopefuls, without funding, their MOUs (some even paid their supposed 'customer' to have a MOU, farcical stuff) lack enough certainty to get financed and stuck in a catch 22 situation. Only the superior economics and risk profile of WKT pushed the debt funding cross the line.