Ann: Cooperation Agreement with Leading Chinese Graphite Group, page-131

Ok ....if that is the case ....who is currently 'over-supplying' who with high grade graphite concentrate right now? Directors have not 'cut their supply' target by 90% at all....they have a Cooperative Agreement to supply 10 -20k/ pa to Aoyu....starting with 1000 tonnes of ore Q3....to upgrade the plant to meet the expected future demand would relatively minimal....IMO the MOU parties are watching with great interest and will be very keen to convert these to BOA's when they see what AOYU gets in their 40 tonnes...that will happen before our neighbours 'turn the first sod' in QLD. VRC is now on the cusp of leading many graphite Co's to production...great Corporate manouvering and positioning imo.