Announcement?, page-28

Hey guys I've been informed that the NPV calculation that was disclosed to the market was incorrect due to the input for the production costs being substantially lower.

This means that the pre-tax NPV is still $251M US and not $396M.

I suspect some people would have bought in under the assumption that this was the NPV but when you run through the numbers as I have this NPV cannot be achieved from the worse case scenario basket price figures that the company have used (which the smart money would have already known of course). This could be achieved if they were to use the estimated future graphite prices as Stormcrow have indicated.

Will be interesting to see how they word the announcement correction and how the market reacts.

Regardless of this error things are looking very positive.