 Today, I have the pleasure of speaking with Mark Thompson from Talga. How are you? Good, Tracy. Mark, you're about to tell our audience something that I think is just sensational, which is that you have the greatest graphite in the world. Is that correct? Yeah. Well, it's recognized as the highest grade deposit of graphite in the world under compliant in I-43-101 or JAWC conditions. It's very large. It's open cut. It's in a great jurisdiction in Sweden, but very importantly, it's got a very nice couple of strange characteristics about how we can process it. All right. I know that you have some intriguing ways to process it, but before we get there, I want to slow you down for our audience, still trying to understand this graphite market because they're being hit with a lot of information. What makes your grade better and what does that mean? So the grade is essentially a high graphite grade means that you can process less tons to get one ton of product that you can sell. So it's cheaper the higher the grade is, and being at surface means it's also cheaper as well. So you have cost advantages to the purity of the graphite being very, very high at surface. Then when you're close to things like roads and railways and other metrics that can come into it, this gives you other advantages as well. That is a standard mining sort of advantage. And then we have another advantage in the type of war that it is and the way it works. Now my understanding, and so I think everybody out there understands that's not only competitive but cost effective, is that you're also competitive. Your grade is so high that you're competitive with synthetic graphite. Can you tell me about that? Yeah, we're competitive with synthetic, which we've got an example of here. Synthetic is nearly 100% pure graphite, and our ore, even though it's only 25%, which is the highest in the world as a resource, it actually looks the same and the actual particles are the same, except that our rock is just sitting on the ground and we can extract at a low cost, and synthetic is something that's extremely expensive to produce. And then we use that to process it in a special way. In your presentation, you do something that I've not seen any other graphite company in the world do, and that's with your testing. Can you tell me a little bit more about this? Yeah, I guess one of the things about our ore is that people know that graphite goes into batteries and that it's involved with conductivity. And we have a little demonstration where we actually hold a battery, which is this one happens to be from Tesla, what goes into the Tesla batteries. And we simply take a rock, we don't even have a drill core, it's totally unprocessed graphite ore, and we attach the battery to it and you can see it conducting electricity perfectly like a synthetic. So our rock in an unprocessed state is like a highly refined product, and that gives us some advantages in then turning it into things like graphene. Well, because I've got the benefit of having an international global expert on graphite, can you tell me a little bit more about graphite in these batteries, these Tesla batteries? It's my understanding you need 10 times the graphite to lithium, an lithium ion battery. Is that correct? Yeah, a carbon because it's very conductive and because it can store energy without changing its volume. It's really been the go-to mineral for batteries for more than 100 years. In recent years it's been very easy to make a flake graphite turn into a small particle that can go into a battery, and so there's been a huge interest based on electrification of vehicles and in having greater amounts of batteries and better performing batteries. The graphite's very, very necessary in that supply chain and it really can't be usurped because it's just got those characteristics that are so robust and proven over time. Because you have such a high grade graphite, does that not allow you to facilitate this graphene at a more competitive rate or is it your processing technique? It's a bit of both, but the processing technique is only enabled by the uniqueness of the rock. So you can have an ore type from anywhere from Brazil to Australia to Africa and it may not work in this process. It only works over a very particular type of deposit because we've got a very large and that surface deposit of the right type, we're able to process and produce graphene at essentially the same cost as we can produce the graphite. So you get a graphite mine with graphene as a free ticket, should we say. So I guess in conclusion what our investor intel audience should also understand is that this is a near term story, a low capex play, 2015 you'll be producing. Is this correct? Yeah, that's correct. The trial mine and the pilot plant allows us to go into production literally in the next few months and then scale that up. So you've got a small scale version of your full scale development now. So instead of going through that long, that low trough of low pricing until you get into full scale production, we actually move into a small scale production and build up from there. So you get the productions imminent and also the capex on full scale development is very, very low. It's only $25 million US and it's because we actually have got this different ore type that enables that. So it looks very too low compared to most other projects but we're essentially removing huge parts of the cost base and that allows us to get it down to that sort of low cost. So it means your equity in the project is not at risk. That's a very financeable project. Your capex is so low, I'm sure I'll have people calling me with $25 million checks by the end of this interview. Have you facilitated your financing yet? Your funding? No, we do get offered personal checks for that amount sometimes. So no, it gives us lots and lots of options to do it. We're in the Eurozone. There's a lot of money sloshing around over there frankly and development funds for this sort of exciting material and graphene. So yeah, we've got a lot of options to draw down from. We're fully funded through to the end of next year so we're not under any stress to make those decisions at this point but yeah, it's a pretty good outlook. Well Mark, thank you so much for joining us today. Cheers Tracy.