What happens next?, page-101

Personally, I'd rather see them go full steam ahead into at least one purification facility in the US or Asia and let Epanko unfold in due course.

When you consider the fact that we are about to construct a Products Quality Facility... doesn't that suggest that we will be testing and validating the quality of graphite supplied from various producers of natural graphite... supposedly for BAM as well as for green steel and battery graphite recycling. So, if that is the case, then why not build a purifcation facility in JV with a US partner, for example, and let Epanko unfold at whatever pace its going to?

Realistically, to expand the resource plus develop Merelani, build a mechanical shaping facility as part of a comprehensive battery minerals hub is extremely ambitious and will take an inordinate amount of time and money. POSCO and the likes are clearly prepared to wait.... however, how many others are they courting? Yeah, sure, pursue Epanko but get the purification plants built elsewhere in order to fulfill the needs of the US, Asian and European partners before they source it from elsewhere.

The OEMs are buying BAM from China atm and will continue to til such time as Epanko and other graphite projects are up and running. They sant the security of supply for when they will be needing huge ongoing quantities in a few years time. But why not pursue the downstream avenue now.... secure those partners and supply them with HF-free purified graphite with spheronised graphite available on the market (from where ever). There will be mines coming on line and there is not a shortage currently. PSG is where the margins are and all of it is currently produced in China. The time could be now to seize the moment.

I realise that there is this perfect picture of how AS and the team envisage Ecograf unfolding (and perhaps it will come to fruition) but get score on the board and a foot in the door with the purification plants. Set the scene for others to follow in the footsteps too of localising the mechanical shaping process at the mines. That really does make economic sense and carbon reduction part of the equation.

Anyway, enough of a rant from me. I'm not p!$$ed off like you are obviously, Jethrol, but can see that the picture is looking bigger than Ben Hur by the month.