Ann: Strategy to supply lithium ion battery market, page-119

The low road? Interesting assessment coming from the guy who began his/her tirade 2 days ago at 12:38pm on the BKT thread, then posting at 16:08 on the SYR thread, followed by little old KNL at 16:13pm where you essentially copied & pasted the same irrelevant argument in triplicate. The only difference is that you added an extra paragraph on each iteration. I do wonder if I had not stopped you in your tracks how long it would have taken before you - chucked on another para - and posted on MNS, MOZ, maybe ADV or even WKT... or possibly effin TON for all we know.

Anyway I do have a wry smile on my face, sitting here, knowing, that instead of continuing your impotent rampage across the remainder of the graphite sector, you instead spent almost 2 full days seething over my response. A response mind you that I will apologise for. Yes, you heard me correctly. I was so enraged by your trivial, unjustified and completely unwarranted post (except for its obvious concerted effort to elicit a defensive response) that I lost my typical composure, made a couple of spelling errors and even resorted to your schoolyard-level keyboard-warrior behaviour. But to suggest that I initiated this 'low road'... Well then, I suggest you peer into your own reflection.

Now, to get to the crux of your again, pointless and increasingly standardized rhetoric - have you done an MBA cartex? or maybe you are an ISO Consultant? Are you looking for work... come on, be honest? Still, I fail to see why you feel the need to bring up ISO9001, isotopic versus anisotropic, or the difference between MOUs and offtakes. Come on cartex, you assume that I have only become involved in graphite the past 3 or 4 years, but by your logic and line of questioning, I am starting to wonder if you have only become involved in investing this past 3 to 4 months? Your naivety is shining through.

We are in the game of investing. Despite ASX Listing Rule 3:1 for continuous disclosure there is still 3.1A, not to mention NDA's, which prohibit much of the information you allude to. So you talk about synthetic, crystallinity and the isotropic nature of graphite in an effort to sound canny but essentially we cannot base our investment decisions on data outside the scope of our knowledge horizon. We do not know the isotropy factor of Epanko's (nor any other graphite explorers) product, yes I know that it is a coefficient that lies somewhere between 0.97 and 1.03, with a factor closer to 1.00 indicating a structure more isotropic in nature. I suppose you're now going to ask if I understand what isotropic means, or if I can differentiate between isotropic in nature versus homogeneous... or the nuances in petroleum coke, or how to pronounce Mu (or mu, or M, or whatever the little greek thing is for it)

Actually, maybe I will turn the question back on you, one thing we do know about our graphite is our degree of crystallinity as measured by the distance between the carbon atom layers. This is measured by the value of d002. Now, without a PhD or a direct copy & paste, like you used for your initial contribution (yes, I have read the Entegris 2013 pdf. many times), how is it possible for KNLs spacing level to be less than the theoretical value of graphite? Please... illuminate us.

I digress, so... F it. Let me take your last post apart:

cartex; "The term "offtake" is not used by graphite industry experts only those that are from other bulk industrial minerals"

Rubbish, 'offtake' is used by every single prospective or current resource producer worldwide. To suggest that Andrew Sprinks, let alone the recently deceased John Park are not graphite industry experts is fanciful - the latter has run a graphite mine! (see below)

cartex: "Qualifying a pilot sample is not the same as a commercially produced sample and if you have any understanding of ISO 9001 requirements"

Whatever mate, like mcandy just said above, ThyssenKrupp first signed a Letter-of-Intent back in October 2014, TK then subsequently engaged debt-finance in March 2015, and then signed off on a binding offtake agreement in August 2015. Not to mention the other "binding-offtake" signed with a European Graphite Trader in 2013. This entity is yet to pull out of the binding agreement. So no, I have not seen this specific agreement nor the 'exit clauses' but to think they haven't pulled out yet would suggest they are still pretty darn keen on KNL's graphite.

cartex: "As for the any loans, I am interested to see if that ever comes to fruition as I have not seen one greenfield natural graphite operation with no sales or commercial production history obtain a secured loan based on MOU's or "binding" agreements"

KNL has both binding offtakes (ie. sales) and a commercial production history at their Merelani site from 1995. With respect to seeing if it comes to fruition... you won't have to wait long my friend as KNL expects the due diligence report back before the end of this month.

cartex: "As you commented in one of your other posts, you are definitely a fan of the Aussie producers and little understanding of many other flake potential or flake production regions around the world."

Again, you show your ignorance and complete disregard for your foe. I strongly suggest your read Sun Tzu before reading this post of mine from last year causing you to choke on your breakfast!

cartex: "Also, if it were not from government subsidies, the EV business would not succeed as the current world oil market is a significant contributing macro factor in the decision making process of purchasing a conventional car or an EV which is considerably higher in price"

Can of worms moron... next!

cartex: Finally, the Woxna plant in Sweden was the last greenfield to commercial production scale plant in the last 20 years and unless you produce actual photos of a commercial production plant from KNL, that fact still stands."

Ok, you got me with your arbitrary 20 year figure, had you said 21 years then I could have rubbed your nose in KNL's Merelani site (source: Kibaran Resources, Breakaway Research Report 2014):

The Merelani Graphite Mine then owned by Graphtan Limited, a subsidiary of London based private company SAMAX Limited, commenced operations in 1995, producing 6,776 tonnes of graphite concentrate. Operations were planned on a 40 year, 15,000tpa high purity (97-98%) concentrate production, with a feed grade of 8.3% TGC.
Graphite production ceased in 1997 due to prevailing low prices, with the last stockpiled concentrate being delivered, through an offtake agreement with US based HarbisonWalker Refractories Limited, in 1998.

In light of all this, I am sorry for taking the low-road and illustrating my limited and circumspect knowledge of the graphite industry, not to mention markets... I tremble at the prospect you will take me to task with more of your condescending yet somehow relevant technical expertise. Enjoy your coffee this morning... can't wait for the response (sometime this decade).

Thanks for interrupting (ruining) my enjoyment of Gayle taking the poms to task.

Cheers,
R