Ann: Testwork Confirms Favourable Flake Size for Li-ion Batteries, page-30

It is worth spending the time to look into alot of the different graphite plays and look at their timelines and results. Majority that I looked at initially got around 90-95% from initial floatation and then further optimisation allowed them to get up to the 99.95% required for battery anode but its never a straight line so with most of the companies I looked at it usually took a few goes to get it up there so they never waive the white flag as such and say we cant get there its more a matter of we need to do more work to get there. Obviously the more work required usually means its more expensive to process so the easier and higher %'s from initial floatation is better.

on SGA they only got in the 80's for their basic floatation so from the outset they were up against it, also if you look at their prospectus it says the following "Flake size petrographic studies of core samples as part of the 2019 diamond drilling program note that the
graphite is generally very fine grained, and the rocks consist of quartz and graphite with abundant haematite.
In one sample the graphite occurs entirely as very fine flakes forming a dense network, with individual flakes
mostly less than 10 µm (Figure 4)."

SFTTH says above that this is to fine to begin with and this may be the cause of a lot of their issues. I couldn't find any further petrographic analysis from SGA so it seams they may have just taken random samples for their MET work but its good to see the KNG are taking the methodical approach to ensure they are testing the sweet spots for MET work. If we look at the historical diamond hole they could have just taken samples from the bottom of the hole as its high TGC% and furthest from the weathering at surface however in fact they want to be taking samples more around the 110m mark on the core as this has high TGC and average micron size of 70. So this approach means they probably wont test Diamond hole 1 initially and go straight to diamond hole 2 for any MET work.

I found the following link a while back which discusses the importance of the Petrographic studies.
PaydirtMarch.pdf (csaglobal.com)

I do note that despite SGA not having much success with their processing and they are in Kazakhstan they are valued much higher than KNG.
Undiluted - SGA $19m KNG $11m
Diluted - SGA $36m KNG - $14m

As I have pointed out previously I am in no way qualified in this area and this is all just based on researching myself so the above is just my view and not advice. Best to dig in and for your on views.