I think you have hit the nail on the head with respect to...

I think you have hit the nail on the head with respect to offtake timeframes. (Western ones that is). Just from memory, the ThyssenKrupp and Euro graphite trader took around a year to sign off on. The battery plant scoping study was commenced in August of last year. So if KNL can make good on the expected conversion of the MOU with Sojitz before the end of June, that is an 8 month time frame. Ditto on the finance time frame. I can vaguely recall an advert phrase; "It won't happen overnight, but it will happen!"