when I hear sell I buy, page-55

Thanks Pauldola.

70Mt of contained graphite as a conservative estimate. Now let's be super conservative:
- only mining to 150m deep (to keep it as economic as possible)
- retaining a 500m width (to get most value out of the open pit); and
- mining only for 1km (let's pick the best km).

Now we have 1000m length x 500m width x 150 depth x 2.35 specific gravity = 176.25 Mt @ 11% TGC = 19.38 Mt of contained graphite. That will last 100 years if Triton produces 193,800t of graphite per year. That is a very small slice of the demand.

Say Triton can recover $700 per tonne for graphite sold (it could be way more).
That is annual revenue of $136m.
Say 50% is profit.
$78m profit per annum with a market capitalisation of $97m.
This looks really cheap to me.

I suspect by the time drilling is completed, we will have a resource much bigger than this and the contained graphite might be at a 14% TGC cut-off rather than 11% further increasing the economic resource. Either way it is going to be MASSIVE when the inferred resource is released later in the year. A few bits of analysis in some company announcements would give shareholders a better picture of what Triton could be sitting on. The problem is that it is so early on in the program and there is no end to mineralisation that is being uncovered. I hope management keeps with the High Grade focus as it already seems the resource will last more than a century. Triton just needs to prove they have a large enough higher graded resource than Syrah that will be more economic and has better flake distribution.

Let's hope the metallurgy comes in great (better than Syrah's) to show the market who is king.

These are conservative estimates based on a portion of the exploration target. Graphite prices and profit may differ significantly.