Ann: Downstream Processing Success at Graphite Bull Project, page-24

Yep, to summarise the more detailed posts, shallow, higher grade (which will in all likelihood slip a little when the drilling expands the resource size) thus low cost plus now (critically) it is a saleable product. It is really tough to see the downside from these MC levels (standard execution risks still apply etc etc). But it is hard to imagine this falls to a non-viable stand alone developable asset once they look to prove up a more sizeable resource. If the grades hold at mid teens (and higher tonnages) then it becomes an exceptional asset.

I think if anything the SP is being held back in the short term by the Cu results (and that seems to have the market's focus) more than the graphite results, and that they may have too many things one the go simultaneously, thus giving an impression of not being focussed on a single near-term prize to trigger a re-rate. I'd argue given that IGO is the big brother in these non-graphite plays that it shouldn't be a distraction, but I can't really reconcile why this hasn't modestly re-rated to at least a ~40M MC even ahead of the Cu results. Lithium juniors maybe sucking all the air out of the market. Who knows? Still think BUX is a sleeper that many have missed.