unlike SYR, SVM have lots of jumbo flake, which can be sold to traditional markets, such as refractories
unlike SYR, SVM can produce very high purity concentrate, which can be sold at a premium
this means they could probably easily get $1,200 to $1,500/t compared to an assumption of $800/t for SYR, which gives SVM a 70 to 90 cent target based on a 50ktpa operation at $300/t opex
MNS & SYR were highly priced based on very large production scenarios
i think graphite obviously currently has overcapacity, which is why none of these companies have solid offtake agreements & why SYR equity funded their mine (rather than could borrow)
SVM certainly can adopt a K-Mart strategy of undercutting the other producers
SVM can target a small mine of 50ktpa but still have lots of upside
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