Ann: Successful Completion of Feedstock Optimisation, page-2

Good Morning all,

Finally, we have the announcement that the company has completed its feedstock optimisation test work. (around 7 weeks later than expected)

I have to admit, this announcement is very positive, a few key points.

The test work was required to finalise purchase agreements of graphite feed stock that is one of the requirements for debt financing, including Export Finance Australia, who EGR is currently working with to secure finance.

The test work discovered the economic variations between the selected feedstock is marginal, which will allow EGR more flexibility with negotiating a purchase agreement with graphite miners.

I did enjoy reading this line,

The Kwinana facility will be the first of its kind to be constructed outside of China and will provide a new supply of high quality and cost competitive purified spherical graphite for the lithium-ion battery market.

There seems little doubt that EGR has made its FID (subject to EPA finance)
It also appears that EGR has secured funds from the directors to avoid a CR until the project is more advanced (Thanks @mr_delta for picking that up from the HYR)

iii. an undrawn funding facility of $300,000 has been arranged with directors to provide the consolidated entity with additional working capital, if required.