capex for stage 2, page-3

It should also be noted that the capex for refurbishment comprised also the building of a completely new 12.000tpa state of the art drying circuit (the most expensive item) + a lot of new heavy equipment + the cost of decommissioning and getting rid of older equipment (unnecessary cost when building a new mine).

So even if the new stage2 plant is 24.000tpa that would recquire only doubling of the modular drying circuit cost. If they acuired it for 2M$, it means for stage2 it would cost just 4M$ (buying two of them and derisking firther the project). If stage1 is successful, building stage2 would be a piece of cake ! lets hope for a successful completion of refurbishment - recommissioning and ramp up of production for stage1 !

Happy multi-bagger graphite and lithium investment to all !