Good analysis Been There. And I would add that at the AGM Dr. Charar mentioned (I think twice) that the FIRST question they were asked from end users about their graphite - do you have long life reserves? So adding a long life reserve to low cost high quality product is also an important factor. Of course, this is why we all think (or thought) that a large end user would simply but the property and thus earn the margin itself via lower cost then their competitors.