Yes Shell, they are miner/graphite trader who have the capacity to warehouse..
I think your missing my point... we had 2-3 years to possibly ink a continuous supply agreement with min purchase amounts which can de-risk our JV. Instead, we are right now just hoping we have Alibaba customers buying one off orders with us whenever their storage shrinks. (Don't take my Alibaba comment literally - it is sarcasm but hope you understand the grift)
My obvious and clear question is - why don't we have an end customer seeking monthly/quarterly supply? Whilst to that question you are speculating that is our JV partner who would and could only provide so much volume...
Why am I hung up with our currently one and onlypurchaser who inked a deal back in 2022? - Because since then (3 whole years) we didn't have any deals with anyone else! Which is for a commodity - not a special product. And neither am I going to speculate around who other "buyers" are until they come. I don't think we are in a speculative market for investors to react to. The current market is expecting pen to paper deals which so far have been extremely disappointing.
I think more pressure should be on management to deliver and to derisk the JV. The amount of "hype and interest" management currently spewed into the leading and DURING the share purchase plan has not in return reflected across any of the actual outcomes. 2000T expected to be "sold" in the first 12 months when in reality the current state is 386T. This is sitting at 19% of the target... No new sales agreements in 10 months of "production". If I was in sales and only hit 19% of my target, I would be FIRED immediately.
But like I said - management have 6 days to come up with some new purchase orders, its THEM that set this expectation (or was it to line up the company bank accounts). We will find out VERY soon.
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