SGA - The best graphite play on the ASX?

Hi All, I have been following SGA since IPO. It is my only graphite investment. I know very little about Graphite deposits, processing, markets and uses, however my limited research has led me to believe SGA is the best graphite play on the ASX. All opinions welcome do you agree or disagree? and what ASX listed graphite companies do you believe have more potential based on their current market cap?

The deposit is second to one in size and none in grade. It is from surface and shallow.

They have hit 5Ns in trials. Have had successful battery tests which are ongoing.

They are located in Kazakhstan close to China and local infrastructure.

The company has been managed well so far and has funds.

A PFS is currently being worked on. The hypothetical mine they use in comparisons has a strip ratio of 0.2 : 1.0

[email protected]% for 66 million tonnes contained graphite.

I am unaware of any other deposits which are Micro crystalline and have been converted to 99.999% purity (natural graphite).

With graphite demand expected to increase a lot over the next decade and beyond I imagine SGAs deposit will at some point become a takeover target.

Listed in July 2022 at 20c

Market cap of 30m AUD at 20c

4.9m cash at 31 Dec

Are there other better graphite plays out there? The current quarterly does a pretty good job at bringing you up to speed if you want to know more.