I was thinking the same but, of course, all associated expenses with our expandable graphite activities go through our joint PGT co. which has the CAPEX and initial OPEX covered by a small loan to PGT. After the short payback period, sales will more than cover OPEX and the high-margin prices of EG will kick in and be pure profit.
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- Ann: Quarterly Activities/Appendix 5B Cash Flow Report
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