Ann: June 2024 Quarterly Activities and Cashflow Report, page-13

So my assessment is SYR really needs to lock in greater sales. The sales price has improved more than I hoped and is up more than 20%. Importantly the sales in last month were well over $1000 a ton when quarterly average is $735, which was better than last quarter at $607. However only sold half as much. Cash burn looks like $17 million. Will need to do another raise in six months at this rate although I expect sales to increase. They still seem positive US government loan is imminent. In addition costs over quarter have decreased from 635 to US$460 a ton. Big decrease.
So the melt down in graphite price in China has not impacted the price for SYR but has impacted volume. The US government needs to clarify much. Long term once graphite tariffs kick in SYR will be doing real well. There will be plenty of support from backers to keep SYR in play.