"Once more, like I've always said, any issue raised on TON can...

"Once more, like I've always said, any issue raised on TON can easily be raised on other graphite stocks but they do not seem to appear elsewhere."

Forgive me Oz .... You are the one that bought up this issue hear on TON ....
so why didn’t you post it elsewhere?
Anyway  ..getting back to it
It's all good to bring up Iron Ore crash but IMO finding and analysing an IO explorer that has no funding in place for it’s IO mine would be more appropriate when looking at or claiming similarities in scenarios for graphite player like TON or any of the ASX wannabes

TON is not a producer as RIO, FMG are ...  even an analysis of those IO juniors that suspended ops for a time would be misplaced when trying to find scenario similarities
They have mines and infrastructure in place and can wait it out just to start up again within months when price moves up.

IF prices do collapse! .... funding for any new mine will be impossible to secure, and the longer the prices stay in that collapsed state, the longer it will take to get funding, build a mine and go into production, whilst those that are actual graphite producers corner the markets (albeit depressed markets) and lock in clients

IMO if G prices just drop ........ Ya still in with a chance ........ If they Collapse all the wannabes including TON  are bugged until any collapse is over then they may be lucky enough to have survived they could try to get an operation  funded

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"If price drops to 350, the entire industry will be destroyed. TON being a low cost producer will still survive. We will then find out which companies are on shaky ground."

An entire industry of graphite producers will be destroyed and you believe, TON who is not even part of that industry will survive .... as what ?   a stock market shell ?? they need to become a producer before you say they are low cost