When Riverside was purchased, the company had a tentative plan...

When Riverside was purchased, the company had a tentative plan for the former Alstrom factory. 300 jobs, $160m investment and 8ktpa. A lot of the original greenfield plans were based on these figures. This was based on an unsubstantiated estimate of gen3 furnace throughput.

The Goal posts have moved significantly since the actual results have come in. I would love to be privy to the same communication as the DoE, or say P66. The fact is the company are pioneering this technology, so you can’t put the chicken before the egg and cost it. Continuous furnaces powder in powder out, is original, that’s taken from many presentations, C.York, C.Burns and other company engineers, defending the business as pioneering the cleanest synthetic graphite ever.

Until the engineering is finalised Q1/24, all the figures we come up with are at best, a guess.

Food for thought, P66 are the biggest holder 16%, came in at $2.60 when the price was around $3. They have a board member on the executive. They are not invested for a tax break. I don’t believe they would be impressed, with their investment, diluted with cap raises at these levels.