Agree with bladerunner, serious buyers haven't started buying...

Agree with bladerunner, serious buyers haven't started buying yet. They won't knee jerk with the small trading crowd after an announcement. They'll do it when they are ready, as the fluctuations in price don't really matter to them so much (5c movements are mulled over at great depth here on HC, but they'll make SFA difference to the funds/instos). Most will be waiting for the finance announcement soon (due to many having their own rules of only investing once finance approved), but some will start buying sooner on the basis that finance is a fait accompli.

Andrew has re-iterated something in this announcement that is similar to what he mentioned to me about the original EGT:

"Kibaran Managing Director Andrew Spinks said the Company’s relationship with Sojitz would also provide a platform to increase production capacity at Epanko as market demand increases for battery grade graphite."

He was quite specific at the time that the EGT was actually wanting more graphite than the 10 ktpa that they committed to. Sojitz is also going to want more graphite than they are committing to, although KNL can't sell them any more (yet) while they have a nameplate production of 44 ktpa. But given the forward production is 100% sold, the next step (after building the mine) is the expansion of production.

For investors, our ROE is going to be huge once that starts happening. The announcement today confirms that even with the finalisation delays of these types of agreements, that Andrew & the rest of the management team do deliver, and finance will be the next announcement delivered, which will be a game changer for us, barring any left field announcement, although they can't resell any more than 100% of production.