The first stage is basically the learning stage. Once successfully avhieved the sky is the limit ! That is why IMO the first stage is the most important one to get right. After that things would become much easier.
This is also a response to the question : why not start big ? Because it is much riskier for shareholders. Producing and selling graphite is not easy and getting financed for a big plant is not easy. Better start small and grow. It is much more realistic and achievable as a strategy espzcially in the context of the graphite market.
