Green Critical Minerals - Find me a cheaper Graphite play

Green Critical Minerals - Find me a cheaper Graphite play

Interesting EV comparison below which highlights different phases of the exploration time cycle from explorer to emerging producer. CML presents a great opportunity to get set early with exploration leverage offering significant upside potential given RNU ran from 2c to over 35c in less than 2 years. Graphite being listed as a critical mineral and with US, Europe and Asian auto makers looking to diversify their battery supply chains away from China, significant supply deficits are being forecast which should add fuel to the fire. Graphite concentrate prices have started to react with SYR recently reporting price increases from $US490/t (CIF) to $US688/t quarter over quarter.

CML @ 1.7c equates to a $16.5M undiluted Market Cap, Cash $5.1M, EV $11.4M

* Rights to acquire up to 80% of the McIntosh High Purity Graphite Project which is the 3rd Largest Graphite Resource in Australia with 23.8Mt @ 4.5% TGC for 1.1Mt Contained Graphite

* Additional Exploration Target estimate of 50 to 100 million tonnes - multiple outcropping occurrences with 7 exploration targets over the tenure

* Current resource 1.1 Mt Contained Graphite (CML 80%) equates to an in ground EV of $12.95/t


RNU @ 29c equates to a $631M undiluted Market Cap, Cash $71M, EV $560M

* Largest Graphite Resource in Australia with 93.5Mt @ 7.3% TGC for 6.9Mt Contained Graphite

* Currently drilling with resource upgrade expected in 2023

* Major Project Status by the Federal Govt. with conditional approval received for $185m loan

* Current resource 6.9Mt Contained Graphite equates to an in ground EV of $81.16/t

DYOR