Ann: Binding Offtake Agreement with Sinosteel, page-41

I think that the market is wary of graphite stocks after the false starts from SYR, TON and KNL. Must be a lot of investors that have got burnt after buying into those especially when they were running hard.

The fact is that MNS are doing what those stocks couldn't and eventually it will have to get re-rated. A stock cannot sit at this sort of market cap when the earnings per year in the not too distant future is going to be multiples of what the market cap is now. Sure we don't have finance or a mining licence yet but that is more of a formality now. It's a good time to accumulate because the share price will gradually move up.