While I’m not really sure why KNL didn’t announce to the market...

While I’m not really sure why KNL didn’t announce to the market the initial test results from the 200T bulk sample, perhaps they’re awaiting finalisation of the spherical-graphite treatment before they announce them, but I will point out that the grades mined from the two chosen zones are considerably better than their modelling indicated.

The Euroz release confirms (http://www.kibaranresources.com.au/irm/PDF/1926/EurozResearchNote);

• “We visited the site where 100t of graphite ore was extracted from the eastern zone as part of the 200t bulk sample. The grade of this sample was 11% TGC compared to resource model grade of 10.7%.”
• The other 100t was taken from the western zone and averaged 9.9% TGC compared to a block model grade of 8% TGC.

If these results are consistent across the treatment, we’re in for a considerably improved TGC average! Which means better product, profitability etc.  

Many a hopeful are out boasting about 7.8%, or 8% in some cases. We’re talking about 11% and 9.9% (when modelling indicated 8%!).

I see why we have customers!