heractilus, agreethat is the vital piece that is missing. No one can dispute the potential of mrf and in the sheer quality of the product. This should also ensure the premium markets and the premium pricing. Most also agree SL is providing a stable risk profile for investors. There is also history in terms of graphite in SL. The only issue is the depth which is what mrf is trialling and planning to use existing shaft with graphite. This is the test run.... lets get the mining license then get the grapjite. Sell it into a a premium market. Prove the success from start to finish and watch the sp react. A failure in getting adequate grapjite quantity and consistency not coming thru the entire vein r the downside risks imo.