Any one of many possible offtakes is possible, Possum. We can...

Any one of many possible offtakes is possible, Possum. We can take our pick as to which one will be first based on what you have already mentioned and what I recall being referenced in anns, presos and interviews. So, lets them:-

• Urbix existing non-binding going legally binding - pending certification of their CPSG product by OEMs which Urbix has been pursuing

• RHI Magnesita offtake agreement being "revised" (my terminology but based on recent comments by Tom)

• Expandable Graphite phase 2 offtake with a new or our existing Austrian offtaker

• Large and Jumbo flake offtake for fuel cells, hydrogen bipolar plates, premium gaskets and foils (the high-end market)

The last one may well be as a result or an extension of our JV with Metachen in India. Could be a player in the US or Canada for that matter... don't know. But it was also inferred in one of our diagrams that our downstream aspirations extended from our JV expanded product into the high-end applications.

One thing I thought was interesting is the fact that Tom mentioned that our plant will be a replica of the existing one.... which I assume to mean a replica of Metachem's existing facility. Whether the property that has been acquired and sign-off on is the same as the original 5-acre one mentionted last year is anyone's guess.

Here's a bit of a condundrum that must be facing EVG and all prospective graphite producers close to FID and signing offtake agreements is how to price the concentrate product years ahead of production when the industry is set to potentially soar like lithium...? Our DFS figures have been based on current graphite prices and not forecasted ones. This is a conservative approach, as Tom reiterated in the panel discussion above. So, how will pricing be agreed upon in such a changing landscape. We certainly don't want to be bound to today's prices for offtakes but OEMs sure do. BOAs wouldn't be straightforward contracts in the simplest of climates and whilst a supply squeeze is looming this year in graphite, companies such as ours, need to get offtakes in place before the end of the year for FID and bankability criteria. I guess its akin to "hedging" which would serve to protect both parties and ensure we get to production.

Any thoughts on this aspect of the game, @possum_30, @Cranium73, @sparj, @WoodySpoon ???