Nice analysis. I assume you are assuming the quantity mentioned...

Nice analysis. I assume you are assuming the quantity mentioned in the MOU is "PER ANNUM"?

That was my assumption also, but I cannot find any reference to "PER ANNUM/PER YEAR". What SYR's announcement says is ...."Under the MOU, Chalieco will buy 80,000-100,000 tonnes of flake graphite and an amount of >98% V2O5 chemical powder or flake products to be determined. The MOU requires the parties to negotiate a legally binding offtake agreement within three months of signing the MOU. The final offtake agreement will firm up V2O5 volume requirements and also both graphite and V2O5 pricing."

Now when another ASX listed company came out with their MOU a while back, this is what they said..." Under the terms of the non-binding MoU, the large EGT proposes to purchase 10,000 tonnes of flake graphite concentrate per year, over a minimum 10-year period. This is a contractual provision and not a production target as production may not occur"

That announcement is clear cut - 10k PER YEAR.

The SYR ann is not.

Media commentators have mentioned the MOU represents "half of SYR's annual production", etc. Are they correct. Do they have more information than what the market was given, or are they also assuming the quantity is per year?

I think another clarification might be in order.