Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-74

Point 3 is what I thought they were doing btw so doesn’t appear new info. Always felt they would start with concentrate and then sell concentrate/PSG, which is what the previous studies implied. Previous studies were a bit like this to as I posted in
https://hotcopper.com.au/posts/65498108/single

Whilst I think you are well annoyed, I tend to agree that they just need to get this to production ASAP. Just settle on your entry production and then expand. Continually revising a scope and quantum just delays entry.

There is an impending graphite shortage as we know - early movers will get the best prices till more supply comes on stream. Last thing I want here is continually having scope changes as happened in a previous stock I held been AVL as you know endlessly delaying FID. The PEPR already allows for growth from what they previously anticipated and modelled as production entry so time to just get this to production this side of 2025. Further delays will impact this potential entry point, Get the FID done - whatever production is modelled one will expand that production as more resource is found down the track given just how much the graphite shortage is and the opportunity it presents. Getting to production and generating profit also allows cash flow to be used to fund expansions as well.

All IMO