The fact that you can look at Industrial Minerals pricing and...

The fact that you can look at Industrial Minerals pricing and see that, for example, +80, mesh, (Medium, Flake) sold for $US 1400 on (date) at (location) doesn't mean that VXL can sell its +80, mesh, (Medium, Flake) for that price or indeed sell it at all. Graphite isn't sold in an open market situation but is spot sold in negotiations between producer and buyers. This is not a market that is easy to break into, it's a matter of proving yourself as a supplier of high quality consistent product that precisely meets the varying needs of the buyer. To start to make headway as a supplier a company needs to offer a quality product cheaper than the competition. It doesn't help that VXL has a relatively high cost of production. So that's the process that the company is engaged in and it will take some time to establish itself in the market, Flinders is at least 6 months further down the track and still selling only part of what it could produce.
The current production of fines makes the situation worse because the demand for fines is contracting and will continue to do so while the demand for large and jumbo flake is increasing and predicted to do so for many years to come. It may well be the case that VXL will not be able to sell some or most of its current production, even if other more established producers can. Time will tell but it would be unrealistic to expect the company to be profitable for some time.