TLG Chart, page-17

DJBDJB

Fair point. You do however have to look at the business model and why the current approach has been adopted. Graphite is a carbon deposit the grade of which differs from place to place like any other mineral deposit, and the morphological structure of the material in each deposit is quite critical. All graphite is not the same. It would be a pity to mine Vitangi so that the material ends up as part of the usual steel making process for carbon steel, the value here is minimal: you are dealing with a bulk industrial material. The development of higher tech uses with higher added value does take time and I would suggest that TLG has consistently progressed down this path, moreover TLG has developed a use for material at each point in the process so that nothing is wasted, for instance the cement additive of crushed mining waste not in slab form with sufficient high value material to dramatically improve some of the qualities of the cement.

TLG is progressing on several fronts, income will eventuate once each of those initiatives is sufficiently advanced to be commercialised by the end user. The end users have been prepared to associate themselves with a junior mining company, which they would not do unless there was some proven concrete potential for the additives being developed. I suspect that the dispersion of the material into the end product is what needs to be refined at an industrial production level.

I therefore continue to hold as that development process matures.