RE:The news is insignificant....yes it is. Unamed company LOL.
In Oct 2012 they put out a PEA touting the fact that they had an UN-NAMED company that was going to upgrade graphite at a cost of $5000 per ton in a facilty that was NOT yet constructed. FMS would then sell that graphite for $10000 a ton.
In a PEA update the above plan seems to have been abondoned and they now can produce at $400 per ton and they are using an average price of $1500 per ton as a selling price.
So if the 2012 PEA was valid back in 2012 it should still be valid now. Guess not it must have been a hope back then.
So now as per yesterdays NR FMS is going to sell 40000 tons per annum to an UN-NAMED company in China? Yeah right. This will likley go the way of the UN-NAMED company referenced in the PEA that was released in Oct 2012.
There is no way that FMS is going to ship all of this graphite from Northern Quebec to an UN-NAMED company in China and compete with Chinese production.
The retail investor might fall for this news but FMS has no credibility among serious graphite companies or investment bankers.