Ann: Investor Presentation - 121 & Indaba Mining Conferences, page-9

Brawl Over Tariffs on EV Graphite Will Test Musk’s Sway With Trump
US trade panel backs China graphite antidumping investigation
https://www.bloomberg.com/news/articles/2025-01-31/tesla-fights-tariffs-on-ev-graphite-putting-musk-at-odds-with-trump?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTczODM0NjE3MiwiZXhwIjoxNzM4OTUwOTcyLCJhcnRpY2xlSWQiOiJTUVdYVlNUMEcxS1cwMCIsImJjb25uZWN0SWQiOiJDN0Q1NUU0NURDNTA0QUE3ODg0ODkxRjMxMjVDRjQ5NSJ9.WOieUBmO2JoOd3MShGP4BjwIDh7nEH4WqpCTJDz3LBo&leadSource=uverify%20wall

this is case in point as to why having Posco as a major shareholder matters. Having a strong commercial ties with the largest ex China anode processing company places BKT in poll position if it can execute the final piece of the funding puzzle without excessive dilution. It's why SYR is pushing so hard to get Vidalia US processing plant up and running and US government is issuing loans and grants to them and NVX.

The bottleneck is Chinas stranglehold over the processing of graphite. Having Posco as a shareholder and major customer in my opinion become even more strategically important.

USITC Votes to Continue Investigations on Active Anode Material from China
https://www.usitc.gov/press_room/news_release/2025/er0131_66450.htm