Ann: Completion of Share Purchase Plan, page-47

If what WKT publishes is true, they have a better project (Lindi). Reasons as follows:

1) Half the distance from the mine to port
2) Much quieter road means transport of product to port is one quarter as long
3) Head grade of about 17.5% (about 80% higher than Epanko)
4) Because of grade they only have to process half as much ore to produce the graphite concentrate. This lowers the capital cost for a smaller plant and also operating costs are lower.
5) They gave 50% of jumbo and super jumbo flake (> 300 and 500 microns) compared to Epanko's 20%

Previously KNL could boast that it alone had binding offtakes for it's entire production but now it seems on top of all their project's superior metrics they have the binding offtakes as well.

KNL has Ecograf which gives us another string to our bow. Furthermore the Kfw independent engineer (SRK which is an international consulting firm) verified all of the designs, schedules and financials of the Epanko project. I'm sticking with KNL and expect it to be at 30 cents within 3 months.

The danger for WKT is that they won't be able to mine the high grade seams of graphite which are enclosed within lower grade halo's. I've looked at their cross sections of the orebody where they show the high grade and it will be difficult to avoid dilution. Excessive dilution will be a major risk for them. All other aspects of their project are impressive though.