You are right, however we don't need demand to be there now, we need demand to be there in 12 months from when we start construction. There have been plenty of posts saying that graphite supply will move into a deficit in 2025. BOAs will be looking at what they think the price will be then, not now.
Ironically, the Chinese decision to go gang busters on production of EVs ,even without any demand for them all is actually doing us a favour, it is hoovering up all the available graphite supply.
You are right, however we don't need demand to be there now, we...
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