Few inaccuracies here.
Fully diluted MC of KNG = 22M minus cash 20M EV.
ITM fully diluted EV around 22.5M.
Also
@Un1qu3Nam3 their deposit has already proven met work through an existing flowsheet. Same flowsheet that produced anode quality graphite acid free (same as RNU). So there's no hope required. The met work is sound.
KNG will have an understanding of if the graphite met potential here in the future. From the interview with the MD 6-8 months from now they expect those results.
Grade is not everything. SGA has 28% TGC. That's double what KNG have. but the processing of that material is awful. They Still haven't produced a 99.95%+ Concentrate even using the most aggressive techniques. Hence why it's market cap is where it is.
Size and grade just 2 variables. Means 0 if you can process it. With graphite - the met work is pretty much everything.
*disclosure i hold both projects - both very undervalued, both at different stages.
SF2TH
Ann: First Holes Intersect 150m of Graphite Schist at Leliyn, page-34
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