The following is all IMO of course:Biggest catalyst will be...

The following is all IMO of course:

Biggest catalyst will be deals for offtakes imo. Large ones anyway and if they are well structured. But this is a fair bit of a wait.

Also, I'm hoping in the shorter term for the mineral sands results to have some impact if they are any good (which basically means same grades as historical but over longer lengths). And then, at some stage, I expect once they have done a fair bit of work on it (if warranted by results) they will flog it off to the highest bidder for a decent amount of cash which will help with getting Balama going with minimal (if any) equity/debt finance.

Also, expect inclusion in ASX indices (ASX 300 at least) at some stage shortly which may have some impact given how tightly this is held - particularly now with Credit Suisse having soaked up a heap of selling from weak hands. Might be tough to get in the ASX 200 as eligibility requirements exclude director holdings and strategic holdings over 5% from market cap calculation but if SP keeps going up we might jsut get there irrespective of that.

Finalisation of scoping study may also provide some momentum.

I wouldn't rule out corporate activity either (incl for CSE)...the Chinese will not be ignorant of what this project means for their graphite industry. And other industries too...for example, I'd say many people don't know that graphite can be a substitute in specific circumstances for petroleum coke (which is a massive market) but has not been before because graphite was too expensive comparatively (Balama could change the market dynamics here). Ironically a certain style of petroleum coke is used to make synthetic graphite.

As for SP targets, don't really have any, at least not until see scopng study as no idea what they are targetting in terms of production, pricing etc. I have SP targets at which I will sell a few (for capital protection purposes) but these are not really the same thing. And given my illdiscipline, several of those targets have come and gone and I still haven't sold a single share (in fact I've bought more CSE!).

Cdchi1