Ann: MoU with Gerdau S.A. to Open American Markets to PureGRAPH, page-72

Danke. Knew I got that 6TPA from somewhere! So from the analysts report:

2.2.1 Production
FGR has an operational 100 tpa primary manufacturing base in Henderson, near Perth, WA. The facility is used to
stockpile vein graphite and has the capacity to establish commercial scale graphene production lines with associated
finishing and packaging functions. All necessary work approvals were received from the WA DER in July 2017.
Currently, customers contracted stand at 5.5 tpa with an operational breakeven level of 6 tpa (based on a production
cost of 10 tpa).


2.6.2 Outlook
FGR could achieve operating breakeven levels soon, as current customers have contracted for 5.5 tpa. Meanwhile,
planarTech sourced 200 kg in 2020 and is expected to increase sourcing to 1 tpa in 2021, while Steel Blue and Aquatic
Leisure Technologies should begin contracts in February 2021 with quantities of c. 2 tpa and 2.5 tpa, respectively. The
manufacturing breakeven for the Henderson facility is 6 tpa, based on production costs of 10 tpa.

Just a further question @spid81 - re the "potential cap raise" the report states (bold mine):

c) Unforeseen circumstances could hinder capital planning
FGR has c. AUD 4 mn of capital and plans to raise equity capital in March 2021. The company has AUD 20 mn
worth of options, at AUD 0.25 per option, which can be exercised by August 2021. It would be ideal to have
50% or more of these exercised, obviating the need for debt funding to complete any expansion.

If there was a cap raise, if enough options don't get exercised... what are your thoughts (and everyone elses) on what this expansion would be...?