Ann: German Research Confirms Recycled Graphite Performance, page-42

In due course, EGR may well refine graphite that is locally mined. We also don't know how integrated the hub in Kwinana will become. An annualised quantity of BAM could end up being shipped (in varying quantities throughout a year) to the same battery manufacturing companies as the nickel and lithium suppliers. Economies of scale (or lack thereof) I don't see as being anyway prohibitive to EGR having a plant in Kwinana as some are putting forth. Sure, EGR's shipping costs in context of overall revenue will be a proportionate figure unlike the big players... but my point is that posters are making out as though Kwinana is off the agenda. I say BS (without the proof).

Sure, there appears to be focus back on TanzGraphite as Terminator refers... BUT, that has always been in the wings. TanzG has always been in parallel to our HF-free development/s here in Kwinana and overseas. Ecograf's business model is not binary! Yes, its very much likely synergistic... BUT the fact that TanzG seems more in the spotlight now, shouldn't be code for "abandon ship" and "shipping BAM from WA overseas is not viable". FGS, talk about the Negative Nancies cranking up the narrative to suit trading agendas.

Depsite the very green US Dow and the green XAO, there aren't many green shoots across the half a dozen watchlists I'm looking at right now. Those that are green... aren't green by much either.