Stirer,The production of bags exceeded the break-even point,...

Stirer,

The production of bags exceeded the break-even point, This doesn't mean the flake type WKT has produced will average the US$900 per bag as requried to achieve the break-even,

When you consider WKT is yet to lock in any long-term contract, they have provided no details on the average price they are selling the graphite for or detailed the flake distribution, Wogan's costs, freight the theoretical break-even statement is just a PR stunt.

Just look at the Chinese prices WKT is seeing for its second-highest flake size (+50). they are seeing only US$921 per tonne, which is 50% lower than the WKT DFS forecast. When you consider +80 and -80 mesh sizes are cheaper products, how can WKT achieve the average price of US$900?

WKT is seeing higher prices in Europe, but WKT needs to cover the Freight, shipping, and Insurance if there is significant demand in Europe for these flake types. WKT woudln't be forced to sell its graphite in China for a 50% discount.