The graphite story is definitely the flavour, but when you look...

The graphite story is definitely the flavour, but when you look at the mc's of tlg, mgy, mox, they are pretty tiny for companies in low sovereign risk countries with a reasonable resource. The cost of the mines aren't very high either, so these could run a lot higher. When you consider the cost to develop a potash mine which was pretty hot with stb there for awhile, but the mc's just got super high in comparison.