400ton/100ton pa assumes 100% conversion rate which in not the case, but at the current rate of sales a moot point.
WG stated it will only take a few weeks,
Jessica Amir: Just pausing now for a second on the Sri Lankan mining operations, going into care and maintenance. What can you tell us?
Warwick Grigor: The material in Sri Lanka is important, it gives us a great cost advantage and it’s an essential ingredient. But we’re at the stage now, where we’ve got four years stockpiled graphite supplies, rather than just keep on mining and mining, and chewing up money there. By putting it on care and maintenance, we can redirect some of our management focus and our finances, to developing our graphene markets and accelerating that sales curve.
At any point, we can go back and restart those mines at a few weeks' notice, so it’s no big issue. But it’s an allocation of capital. It’s recognition that we’re in a very healthy position with stockpiles. And it’s something we can call on later, as we accelerate our graphene sales.
But I get your point, I am very sceptical about the timeline for bringing the mines out of C&M, I still remember October 2015 when they said mining within weeks.
