Nothing would surprise me anymore, MTT. As for Roundy'sI slip of...

Nothing would surprise me anymore, MTT. As for Roundy'sI slip of the tongue, it happened when discussing supply to our expandable graphite JV. It's feasible that if GW bother to get their mining operation out of so-called "care & maintenance" (with or without a DFS), then we might just oftake their large flake directly for our EG plant in India. It would cut out the middle man.

As for going into a BAM JV with GW, can you see that happening? Roundy mentioned locating it in the west of southern Madagascar - far from proximity to Graphmada. If GW completely surprises the market with tangible, solid progress then I would consider it a small possibility. Bizzel's money wouldn't go astray - but that's as far I would consider the benefit of combining forces.

I'm surprised that Ecograf's business model of separating the mechanical shaping and purification processes isn't a consideration. Localising the first stage process and shipping micronised / spheronised graphite to purification plants located close to OEMs in Europe, Asia and the US really has merit. A piece of the mid-stream pie and a piece in several downstream pies makes even more financial sense. However, does anyone know how Urbix intends to structure their operations? And, has Urbix had discussions with NextSource?