I expect you're more likely to receive a balanced response on...

I expect you're more likely to receive a balanced response on the Graphite thread.

2 points of differentiation;

- Time to production is the big one with Syrah's plant being commissioned Q1 2017. From memory Magnis is targeting Q2 2017 but with no funding at present I just can't see that being met.

- Syrah has positioned itself to benefit strongly from any Li-battery boom without being held hostage by it. In my opinion hitting the traditional graphite markets is a big part of why the market views Syrah's operation as viable, valuing it accordingly.