just assumed that the what is it? 20% of FINE/Medium Flake in...

just assumed that the what is it? 20% of FINE/Medium Flake in the basket would be going to 'traditional' use ie in the steel market.
That the 80% [whatever] of Jumbo + would be going into batteries etc or maybe anodes whatever. After all MNS did have that big kerfuffle about Jumbo is the ONLY battery grade so couldn't see why in your case both Jumbo and Fine would be for that purpose.

So now you're using as FACT that both Jumbo and Fine can be used for High Tech applications?
I know that too but the Fine has to be of inital very high grade over about 95% going into 99%+ on 'easy', few 'washes'. Then only a Percentage of the Fine "qualifies" for that ie there's always x kts of $400/500/tonne 'stuff' used for traditional like steel making.

Anyway yes king of hell I am working on the $2billion "deal" by a Private NON SOE Dragon company.
Working on this Super SOE concept too. With all these Divisions under your MNS SOE I wonder if some won't be hived off in the Amalgamation ? Chinalco looks like it's for the Chop.

but in general I'm not concerned financially or in holding Dragon Connected Graphite Suppliers.Which is ALL the Super Pits.

Anyhow I just wish you would acknowledge that the Options are part of your Market Cap calc and put a 'ceiling' on the heads SP so you don't get the TON spikes to 'trade'., give you some 'excitement'.

anyhow, see ya round.