42% fall in SP possible, page-27

Yeah Freehold, we all remember when you were adamant that SYR was over valued at $2.40 odd a few months back. What is today's share price............ umm.

Plus, as your posts come across as slightly naïve about these matters I will give you a helping hand. Those graphs you inserted are based on two fundamental flaws.

1. Firstly, the distribution of flake and the purity of concentrate are based on small sampling only. An ore body will vary dramatically relative to the spot one digs the bucket in. In some cases the figures used for cross analysis are best guess extrapolations on limited metallurgical results that are incomplete. Very few graphite explorers have provided proper disclosure of the whole range of metallurgical testing, let alone over a broad number of samples. They salami slice and omit to cover all the nitty gritty details, especially for the fine flake.

2. The other flaw relates to presenting the graphs based on the global inferred resource. To really understand the potential of a graphite deposit one needs to consider the 'ore reserves' with their specific associated ore grade, flake distribution, and purity levels. Very few have announced an ore reserve as yet. One needs to do some crystal ball gazing at the 'measured resource' results to get estimates worth analysing. Most graphite explorers don't have a measured resource yet, so graphs like what you pasted are just hairy fairy land.

So, there are plenty of pitfalls to avoid. One is giving too much weight to broad analysis based on "inferred resources" and another by being sucked into the fallacy of doing peer analysis for exploration companies. Both of these pitfalls can easily lead one up the garden path.

Anyway, good luck with your investments.

Cheers