Ann: Scoping Study Results for Lac Rainy Graphite Project, page-21

this is not even for battery grade or other higher margin products... plus the consensus is that graphite prices will go UP, CAPEX and OPEX will likely be going DOWN = even better margins.

Consider if NO projects or mines are built, it is going to end up costing EV producers and markets even more in the long run for something that will inevitably be needed in the end. I think $160m sounds high, but it is a necessary cost that EV makers and the offtakers they are talking with now will easily consider worth the upfront payment to reduce future pain on any possible supply shortage.