I'm interested in your thought process of why you would...

I'm interested in your thought process of why you would keep adding into the graphite sector given the massive headwinds.

I've been fortunate to buy this at well below current prices and have taken profits along the way so still happy to hold a parcel here.

But the overall graphite sector is in a massive downturn with no obvious catalysts for a turnaround so in my thinking there's no way I'd add to my position here until I see some serious recovery signs. I don't see any of these currently so averaging down here could be very problematic. You have depressed pricing across all battery minerals, graphite supply gaps forecasted seem to be non-existent, synthetic graphite still dominates.

There's no signs of offtakes being signed at these graphite prices meaning there's no FID, finance or construction on the horizon.

I'm hopeful but I would never throw good money after bad into a struggling market based on hope. Not until we see confirmed signs of recovery.