@MJP - it's all smoke an mirrors as far as I can tell, but...

@MJP - it's all smoke an mirrors as far as I can tell, but others on here will tell you different.

3. The graphite from Sri Lanka occurs in high grade (>90% usually) crystalline veins. One of the few (only?) locations for this style of mineralisation. They aren't selling anything at the moment. There is no BFS/DFS as the only work they've done is some geophysics and a handful of drillholes. One of their releases a while back contained this gem "However, MRL does not intend to drill Aluketiya to the point of being able to

calculate a JORC-compliant resource estimate and will instead aim to begin​

production as soon as possible." Difficult to go through to BFS if you're just going to fly by the seat of your pants and just start mining. Has an enviro study been done - no.

4. Zero that can be released via ASX. However, squillions of tonnes of virtual ore exist in the heads of management and the true believers on here.

5. Sovereign risk is highish - it's a 3rd world country.

As for the latest release: it's a bit short on info. Source/type of sample? How representative of the deposit was the sample? Weight of sample? Recoveries of beneficiated product? Number of tests/runs? How about some tables, graphs and pictures? The JORC table 1 bit at the end just seems to be generic and the wording implies that it refers to a drill program that has yet to take place. It all just seems a bit shonky and amateurish.