Phase 1 Processing to Commence Shortly: Phase 1 production is expected to commence in Mar Q and will produce circa 8,200t of graphite from existing surface stockpiles. Based on the estimated average graphite price of US$1,400/t, this is expected to generate circa $6m in EBITDA for capex of $2.8m. As part of phase 1, VXL is looking to build strong customer relationships by delivering on existing letters of Intent. This will be the key to achieving attractive offtake arrangements to fund Phase 2.
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