I'm not sure the race you're referring to is over.
Libaran has it's niche. Sure you could argue that graphite prices are in a slump atm.
Will they stay there? I don't know and neither do you. Have the off-take prices been determined yet, and will be in the near future? Most likely not.
However, graphite is not graphite and Kibaran has partners who want their specific graphite. Kibaran's race is well and truly under way.
The players in the race I think you're referring to, have not revealed their hands yet at all, in respect to graphite.
MNS vs KNL, page-117
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