I've done a detailed FA on TON few weeks back when price was...

I've done a detailed FA on TON few weeks back when price was 15.5 c

If anyone is new to TON, then that thread might give a good overview of what the company is about (refer link in attached quoted comment of mine). There are lots of great comments from very knowledgeable long termers in that original linked thread.

I’ve done a few more updates in the last couple of weeks, most notably the quoted comment above.

All though, for me, one of the main factors was that market capitalisation has to come close to SYR.

When I started my FA, Ton's market cap was around 50 million and SYR's was around 0.8 billion. The difference continues to reduce drastically.

TON’s current market cap - 176 million
SYR’s current market cap – 593 million

Today’s announcement of off takes changes everything

As @Fibonarchery very rightly mentioned in another comment, the first short term target should be at least half of SYR’s market cap.

Since I’m a long termer on TON, I’m also going to look a bit ahead

Binding offtake agreement –

Triton has EXCLUSIVE rights to supply Yichang

$1000/ tonne is just the floor price or the minimum price. With applicable market price in future this could rise much, much more

Since $1000 is minimum, it gives Triton guarantee of assured revenue, with much more upside if market price rises more

Yichang has 20 years experience

2 billion dollar guaranteed revenue over the following years gives massive confidence to other customers. Triton has no restriction on selling to others. This massive contract will definitely attract other customers in the time to come. This is possibly one of the largest and longest materials supply contracts made in the graphite market.

Future demands of graphite – Electric vehicles, solar energy, batteries, super strong graphene products.

Graphite itself has potential to form a bubble in the future. There is no guarantee that any of this would happen but there is no harm in being cautiously optimistic.

Conclusion – I was a huge fan of TON’s long term potential when I did my FA few weeks back at 15.5c and am a huge fan now too. TON has tremendous long term potential, which we cannot even dream of right now. I don’t know about the short term movement, but Fibonarchery’s medium term target is definitely conservative and achievable. Over the longer term, there is no limit to what TON can achieve, and TON could even become the next BHP/RIO of graphite.

This could just be the start as TON continues to attract more customers and hopefully get more offtakes in the future. Importantly, TON is not restricted to one customer, and has a massive long contract which could just be the start of something huge.

Really exciting news. Good luck to all holders. Like I said in my original comment few weeks back when price was just 15.5 c, TON is definitely one of the best long term investments.