A big missing link for us is knowing what grade the graphite is and the cost to process it, therefore we can't put an educated guess on the value of the company.

Grade is known and was provided in the 43-101. Cost to process was estimated in the 43-101 but of course the PEA will provide more details. I think we know the costs are in and around the $2K per tonne number +/- unless there is some surprises.

One thing to look for in the PEA is a range of prices and costs. Given all this extra testing for various end users we will probably end up with various scenarios of price/cost. For example, using the 43-101 we could have a price of $8,500 and a cost of $2,000; then a price of $10,000 and a cost of $2,500, etc etc. It could be that there is some additional cost to provide an end user with x characteristics (this would be a good question for the AGM).

At this point I think I would be shocked if the costs were well higher than the estimates provided in the 43-101. When I spoke to AE about the NPV calculation we have access to here (provided by Gloriuex I believe) he confirmed of course that they have done a similar NPV and his phrase for it was 'staggering', as in, 'this would be the highest margin mine in the world if it was running today'.

I look to the PEA to (a) simply confirm what we here already know and (b) trigger other events already spelled out here