Camcam you must be a little new to HXG so lets clarify a few...

Camcam you must be a little new to HXG so lets clarify a few inaccuracies in your post.

You are quite correct that this is not iron ore and understanding the graphite market is important. If you wish to comment on HXG you should put some time into understanding where they fit into said market.

The primary market for HXG is battery grade flake graphite (possibly spheronised) and sold direct via offtake to battery makers. This product is not bulk low margin as it competes with synthetic at $15k per ton. The last steps are underway on product spec that, along with PFS, pave the way to offtake agreements. There will be no flooding the market.

Name me another graphite player with natural flake as good as this quality and purity and with 20+ years of product that is ready to develop. There may be one or two but the bulk of graphite players do not have the quality, purity and cost advantage of HXG and from a mining friendly jurisdiction pregnant with engineering capability that currently is sitting waiting for development projects such as this. Good luck getting an African project into production as quick as this one.

This project would cost 100-150m to develop. If JV'd thats zero cost and dilution to HXG. If done internally that could be debt funded with a 1-2 year payback so I have zero worries about project cost once offtake is in the bag.

I cannot see in the presentation that they intend to spend material amounts of time and money extending resource drilling. Is this a red herring? They may put a few holes in Marlin and Threadfin etc to confirm extent but I can guarantee you that will not add a day to PFS or DFS delivery.

If you prefer other graphite players please return to their threads rather than positing alternate truths here.
Cheers