Kicked out of index Friday, page-47

Could I correct a few misconceptions here? I'm not trying to defend what has happened (I'm certainly feeling the pain!), but we do need to keep the facts in sight.
Flake size distributions are not materially different from what has been stated previously. According to the May announcement, the FY18 product mix was 80%-20% fines-to-coarse, which is quite in line with what has been said many times in the past.
Plant feed grade has been around 17% graphite content, again, in line with what has been previously indicated. It is not true to say that this "well below" any previous estimates.
The prices quoted in so-called "firm offtake" agreements have been shown to be unreliable. Is there any reason why those same agreements signed by other, would-be, graphite producers (none of which are actually producing and selling any significant amount of graphite) will automatically turn out to be any better?
Finally, in regard to the claims that producing big quantities of large-flake graphite will somehow solve the industry problems, it's worth taking a long, cold look at the market for such product, even including any hoped-for expandable-graphite market. The major market for large-flake is mature, currently well-supplied, and not showing rapid growth. Adding 100K tonnes/year to the supply would be a near-certain recipe for price collapse. It is wishful thinking to picture large-flake as some kind of high-priced solution to the problem. It's not hard to work this out, (especially if you are a banker) which is probably a major reason why some of the optimistic wannabee producers are finding it so hard to get financing.

Cheers