Just to clarify on opex, using easy numbers, if they sell 45ktpa of graphite and 5 ktpa of graphene at a total cost of $500/t. And sell graphene at $5000/t then the graphene revenue would cover the entire opex. Change the total opex or graphene price then this also changes but can see that it will be difficult for another producer to match TLG on opex. Risk is they need to sign a graphene offtake for this volume. Will be interesting to see what TLG use for the graphene sale prices.
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