Ann: Updated Epanko Ore Reserve, page-5

All such studies are necessary to arrange project financing for large-scale complex projects. This is particularly the case where there aren't many analogues that the bankers can analyse that have actually been developed in the western world. Most battery anode material and its graphite supply is produced in China.

It is just as well we have a team that understands the complexity and the quality of work required although that is not yet appreciated by most posters on HC.

Note they have not spent the money on this activity of drilling, testing and modelling in order to increase the resource and now reserves until they had to as part of working through the bankers' requirements, which undoubtedly are evolving as time goes on.

Don't forget there was a major hiatus for quite a few years while Megafool ran the anti-west anti-development backward looking government over there. Things are almost as bad in Australia these days in order to get up new resource projects of scale in most jurisdictions - because of an enormous amount of green and red tape by ideologically run government agencies in many of the states. I have posted here before about how some major projects are taking a couple of decades now in Australia - plenty of examples. And some just can't get up like coal mines, and gas exploration.