Ultimately, the market is often wrong, and spectacularly so....

Ultimately, the market is often wrong, and spectacularly so. Markets are built on sentiment, not rational thought.
TON was once valued over $100m, and is now marginally above $nil. Was it right before, or right now?
BKT is currently nearly at KNL's market cap. Is it right, is it fully priced, does it have more to go? Or is KNL coming down even further because BKT actually is the bee's knees?
SYR has a market cap approaching $1.5b, without having dug a tonne of graphite out yet, and is unlikely to produce as much cashflow as will be required to keep the share price where it is. What's a valid return on $1.5b for a pre-operating mine when you are taking construction risk as well as future production risk? Would you expect at least a 10% return? Is SYR going to make $150m in post expense $dollars? Each and every year? I'd like to see how, without garbage input assumptions in a cashflow.
MNS is approaching $0.5b, and I've seen some posts saying they will be making well over $2K margin per tonne in profit. These numbers are just made up. No mine will operate for long on that sort of margin without having numerous challengers.
These last two in particular still insist they will be able to go from 0%-50% of the current global flake graphite production within a year of commencing production (in aggregate). SYR is building their super-pit today, planning to start next year (2017). MNS think they'll be producing by end 2017 I believe. Who is buying all the graphite, at top $dollar, in late 2017? The reality is no-one.

Time to go to bed.