TJ Where is your proof to substantiate your claim that SYR need...

TJ

Where is your proof to substantiate your claim that SYR need to "worry about their own affairs and not so much their competitors". SYR declared in discussion at their last EGM that they are not worried about their competitors, especially TON, or words to that effect. They in fact explained how excited they are looking forward and provided a brief overview of all the market opportunities they are investigating. One of those exciting opportunities has been further explained to the market today with a public announcement followed up with a p.p. presentation. That is good proof of their forward looking focus that is far from looking over their shoulder.

Furthermore, KNL's announcement is not an offtake agreement. It is a Letter Of Intent. This point I make is not to denigrate the good work of KNL. On the contrary, congrats to them. However, as stated in the SYR annual report released last night, the MOU with Chalieco has progressed to a Statement of Sales Intent. Ipso facto, basically the same outcome as a LOI.

As for your comment about Credit Suisse, I think that is obvious and widely applies across the whole market and sideline commentators. As I have always contended, don't simply rely of statements by industry commentators or market analysts. DYOR of the raw data and draw your own conclusions. However, in this case the raw data that Credit Suisse is highlighting has some compelling issues to ponder. Ignore at own peril is probably a wise move.

As for Offtake Agreements in general. IMHO, the market doesn't comprehend the complexity of these contracts. No professional and competent business is going to sign up to a large agreement/contract until most of the risk is diminished. In a market like graphite with so many clamouring for emergence from exploration to development to producer the complexity and opaqueness of the fundamentals creates a lot of risk. Therefore, the smart and wise process for procurement of supply is to follow the MOU, LOI, SSI pathway to signing contracts. This pathway is very detailed and time consuming with much due diligence to be pursued by the potential purchaser. No doubt in my mind that a massive warning bell should go off if anybody announces a large signed and sealed offtake agreement out of the blue and in abnormally fast time. Sound business just doesn't work that way.

No doubt in my mind that SYR is well on the way to acquiring sound, large, and lucrative offtake agreements. Sadly, they made a mistake by setting a false perception that the Chalieco deal would mature so quickly. I bet they learnt a valuable lesson in that one. Regardless, SYR are moving on and I like the way they are adopting a hasten slowly philosophy supported by well researched graphite and carbon market analysis.

Cheers