Ann: Syrah Sales and Marketing Update, page-27

Prime1, Thanks for correcting me on the graphite anode capacity of Syrah's Louisiana BAM plant. "Developing a Commercial BAM Plant to supply the battery anode market with an initial 20ktpa Louisiana, Commercial Plant for a 60ktpa capacity, using proven technology and processes" This added capacity is a good start but for Syrah to first start to justify their extremely high market value they will first need to sell out all of this 6oktpa capacity per year and at same time sell at very high margins. As we all know this will take many years to make happen and as soon as it happens Syrah must then double their capacity and still sell at very high margins to justify today's market value.