Go Down with the Ship or Except Losses?, page-6

Well said Prime1.
Worth mentioning the time it takes to address and formulate a plan for a SG plant to enhance company's product.
Initially company had an internal assessment as set out on 18/6/15 Syrah announces Internal Economic Assessment for Coated Spherical Graphite


Then company set its plans in place and on 17/11/2016 Syrah announced Downstream strategy update

Worth mentioning is the time factor to proceed from internal assessment that coated spherical graphite was a goer for SYR to an actual BFS for SG plant.
This will be roughly 2 years.
Our competitors would face the same time challenges and then there is the quality of product they will be competing with.

Reading between the lines preliminary discussions with financiers has taken place and this is supported by the following statements in above Downstream strategy update.