Good to hear brads voice again. He really likes Brr radio. He...

Good to hear brads voice again. He really likes Brr radio.

He said some interesting points about the graphite market. His frank and fresh analysis, that the graphite market is now a buyers market with graphite buyers taking there time as there are lots of projects to look at, before they make decisions. So those that expect a quick offtake, can now reframe from talking about this. It could take a long time before decisions on offtakes are realized. Who knows all permits could be finalized by ton, and decision to mine done, and theres no off takes. Explains why syr has no offtakes either. They are like gold offtakes, so those that have them are pretty much guaranteed to mine.

Paul, brad did mention there is steady growth in the industrials market, the market tons graphite is aimed for. Even brad agrees with me. We need more industrial graphite use posts mate, ton future, relax with the batteries posts. Others can supply that, ton will go for the big market.

Brad did say the funding deal was in response to tough market conditions. That's a strange comment, because at the end of the yr there was many capital raising executed, even in the hardest hit sectors like oil and gas and iron ore. Maybe it was just hard for Ton to raise capital then. That's a worrying sign. Why would investment banks be shy in taking up an offer from the biggest graphite and vanadium deposit in the world currently? Was it the last raising, didn't go well? didn't appear like that. Who knows. Very strange.

Brad did give us an example of how the strike price worked. If the share price was say 30 cents, ton can offer say 26 cents and get the raising done with LSI. So LSI will get a discount on the new shares applied for, as well as a 5.5% fee. They are certainly on a winner, that's for sure