Ann: Preliminary Final Report, page-9

It should also be stated that achieving profitability at only 6000tpa operation is a huge achievement, especially if you compare to other much bigger projects feasibility studies where profitability cannot be achieved unless the mine produces and sells 20.000tpa+ of graphite per year (most probably Syrah cannot achieve profitability unless it produces and sells 100.000tpa+ of graphite).

The implications are huge for BSM profitability in the long run, if they are able to be profitable at merely 6000tpa, once they expand theor production to 20.000tpa+ the economies of scale will kick-in big time and margins will substantially improve probably from just under 50% up to 200%+.

The refurbishment and 6000tpa is only the beginning ! Happy multi-bagger graphite investment to all !