Ann: Appendix 3B, page-53

I think your post is a little harsh.

You see the MNS BFS is talking about production in 2018, without an indication on when in 2018, just 2018. So December/2018? And currently MNS has as many valued customers as TON. Further to that, MNS in the September quarter had $6.1m in the bank, verses TON’s $8m.

But here’s where you can split the two. TON has a 20% strategic shareholder who owns a Chinese mining company and has considerably more influence within China than any other Australian listed graphite wannabe. With China accounting for 66%-75% of total global graphite production.

The truth is there isn’t much in the competing proposals. But one does appear to have set a realistic time-frame for bringing on customers, their mine into production and with a hell of a lot more upside potential than the other.