Oversupply of Graphite...what the?

This is on the bull, 26 April 2016 ...

SELL RECOMMENDATIONS
Magnis Resources (MNS)

Chart: Share price over the year
A high profile graphite stock that’s done well for shareholders, particularly on news that its graphite can be used for spherical graphite. But it won’t be easy raising the $350 million needed to develop a 5 million tonne a year mine. The easy money has already been made in the market. The hard work of raising the money, construction and commissioning now takes over. Bear in mind, the proposed 240,000 tonnes per annum of graphite concentrate production would boost world supply of natural graphite by more than 20 per cent. Oversupply looms. Take profits and look for the next performer.