I don't think it's necessarily the enthusiasm for graphite that's waning, but rather investors and traders are getting more "picky" with the quality of assays or other exploration progress.
Not too long ago, graphite juniors that merely announced some rock chip samples or even just announcing their intention to start graphite exploration was enough to send their sp into a frenzy. This type of herd behaviour is more than enough to drive sentiment that a graphite bubble might be forming. Combine this with the softening equity market sentiment around the world, slow down in Chinese manufacturing, and you have yourself retraces of unsupported graphite hypes that were forming everywhere.
In my opinion, the outlook for graphite has not changed, and the slowdown in Chinese production due to environmental sanctions is already happening. However as it stands, the market will only reward those that have true potential and empty promises trying to catch the wave will be quickly punished.
As they say in resource, grade is king and BUX has probably the highest grade resource in the world. If they can prove up larger resource size, it is entirely possible for them to be re-rated rapidly given their presently low market cap.
BUX Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
