A lot depends on what offtake suppliers choices are, how much historical work EGR can draw upon, how much historical test work has occurred and how confident off-take customers are around the consistency of decay curves. A potential off-take customer may reach the conclusion that they like how a product is performing well before reaching the end of the proposed testing. They obviously need to complete the testing before using the product but EGR hasn't yet build the Epanko mine.
Another issue is they may have done some preliminary testing on Epanko graphite but not from the test plant. Epanko supplied a bulk sample years ago and there could be customers who have done long-term tests on how the graphite performed and may now only need short-term tests to confirm the product from the pilot plant matches or exceeds earlier work.
EGR Price at posting:
31.0¢ Sentiment: None Disclosure: Held
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