As well as the four key criteria identified by Thomas Phelps in...

As well as the four key criteria identified by Thomas Phelps in his book "100 to 1 in the Stock Market", for a company to become a multi bagger:
1)  It must be small
2) It must be relatively unknown
3) It must have a unique product
4) It must have strong management
and the additional factors of being timed right for a disruptive market cycle, and optionality, there is another factor that also applies in FGR's case.

That factor is scalability, and is also covered in the recent "Graphene Operations Update" (29th March 2017).

"Scalability of Production Capacity
It is a compelling feature of FGR’s Graphene Cell that it is a very low capital cost modular unit. It does not require the prohibitive capital expenditure that a centralised processing plant would involve. It does not require off-take agreements to justify or to finance graphene production capacity. Rather, modules can be manufactured with a short lead-time in direct response to demand for graphene from customers. Where customers are needing bulk supplies of graphene it is likely that a Cell can be installed on their factory floor under the supervision of FGR personnel. This would provide the benefit of limiting transportation cost of a voluminous industry-ready graphene product whilst enabling just-in-time management of input materials into the manufacturing process.

FGR expects that individual Cells may need to be tailor-made to suit customer requirement and to meet purpose specific functionality, but this will be a matter that can resolved through working closely with each customer. Responsiveness to customer needs will be an important marketing feature."

As well as the scalability of the production module, there is also the scalability in supply of the high purity crystal vein graphite that makes the whole process possible. First Graphite will have three mines operating this year, plus an agreement with the government mine for a minimum of two years (for all of their premium grade material). They also have announced they have access to other third party material.

And as soon as the first three mines are up and running, the geologists will be out identifying the next development prospect among the 220 potentially commercial mines they have already located on their 39,500 hectares of granted tenements.

The low capex involved in both the production modules and new mines sets FGR apart. No huge funding required here. Just steadily ramp up production as required.

So we can add scalability to the factors that identify the potential of First Graphite to become a multi bagger.

And the key attribute of the long term investor - patience. Just "Buy right, and hold on"