BKT, page-23

syr share price jumped from .08c to 2.80 in 9 months in 2011/12. If/when blackrock attains funding for phase 1, investors will start looking at the projected earnings more seriously. Projected at US$313m in EBITDA during first three years of operation. With offtake agreements already in place, investors could see potential earnings outweigh risks involved and push s/p above $1 within 12 months.

The big elephant in the room is Syrah. With its sp dropping from $6 down to $1, its obviously left a sour taste for many investors interested in graphite. But syrah cannot produce the TGC purity (using a standard flotation circuit) that blackrock has attained. So I see that risk outweighed by all the offtake agreements that blackrock has attained with chinese manufacturers.