Potential upside at different stages, page-20

I suppose it boils down to like for like product. If RNU has the same flake size distribution as SYR then you have a valid argument there, however if RNU graphite is of a higher quality flake size it will command a significantly higher price per ton, than run of the mill battery anode graphite such as that of SYR.
Pricing Current graphite prices - US$/tonne
(94-97%C)

XL flake$2,000/t(+50 mesh)
Large flake$1,200/t(+80 mesh)
Medium flake$1,000/t(+100 to -80 mesh)
Small flake$850/t(-100 mesh)
and higher quality expandable graphite again can command up to $4000USD
Know your graphite...