similar companies, page-25

Elcora own 40% of there mine which has a 2hectar exploration interest. FGR has 390hectar exploration interest nearly 200 times the size of Elcora share of exploration interest. ELCORA have sold forward nearly all of there Graphite leaving basically very little for graphene production. I believe Elcora has made a strategic error in doing this. FGR can bulk produce graphene Elcora at this point can not bulk produce graphene. Elcora has very little management depth basically only having Flintoff from a technical standpoint. FGR bulk graphene production gives FGR first mover advantage. In my opinion FGR has significant advantages over Elcora. Basically at present IMO FGR is the clear market leader with at present very little competition.