Ann: First Spheroidized Graphite Produced, page-46

Most likely an attempt to keep the sp low and accumulate. Pretty easy when the volume is low. If you compare the resource to peers it is clearly obvious SGA is undervalued. The PFS will indicate an extremely high return on investment here mainly due to the low cost of electricity in Kazakhstan. In the meantime it's frustrating waiting for this to rerate considering Sga was trading at over double the current value and since then all the news flow has been extremely positive. SGA is definitely a takeover target imo and my first thought this could be why the sp is being kept low but on second thoughts it seems too amateurish so more likely just a short term trader wanting to capitalise on the rerate which is around the corner.