Ann: Proposed issue of securities - WKT, page-214

No Albite, you are wrong again, but that is okay I will help you out..

SYR was forecast to produce 40-50% Coarse flake, yet when they completed commissioning they were only able to achieve 14-20% recovery of the coarse flake, this is around a 40-50% reduction and after 5-6 years of mining they haven't been able to increase the recovery of their coarse flakes.
What this means, instead of SYR achieving US$1000 per tonne for their graphite, they have seen prices from US$350-500 per tonne, Which is around the level of their operating cost, this is all due to the graphite they produce is significantly smaller than they had forecast.

If you read the bulk testing of Chialo, Epanko and Ulanzi, you will see all of these companies have suffered flake loss in their commercial scale tests.
I recall reading the over at Chialo when they updated shareholders with the results of the bulk sampling test work after it was run through a commercial processing facility, we had all the WKT bulls over there pumping about how the project wouldn't be viable with such a low TGC grade and that the other flake sizes were significantly reduced. Yet none of these posters even considered this was likely at Lindi when all tests have been small-scale and processed through a lab.

it's a little deceptive of you to add the table above which compares WKT lab scale tests to others that have completed commercial bulk samples or who are fully operating mine. If the table above was updated, I think you will find that the SYR percentage of +180 mesh graphite will be significantly lower.