Ann: Graphmada Graphite Mine Operational Update, page-34

Well that makes sense... we don't sell any now, so we don't run out later on.

To be fair, I can understand that once supply to a client has commenced, you don't want to let them down.

It's just another delay that the market ( HC at least) didn't expect.

To my mind, yet another reason to not expect the 20,000 tpa upgrade to be on time.

Now...Oppies not looking like they will be in the money... CR needed,   Production ramp up slower than expected, so not as much stock to hand and much of it at lower quality,     Building inventory....so cash flow delayed... Qtrly not going to set the world on fire.

Man, I shoulda jumped out completely when I had the chance.