The performance of the blend only takes you so far. If you want to push life and range (towards 100% EV) it may no longer stack up, i think this is the direction NVX are seeing in the market.
If and when SYR ramp up to full production they could easily expand faster and cheaper than all other competition. There is no resource, process or logistic constraint to them doing this, only the market. This is not a favourable investment situation ignoring the NVX conclusions.
There is a boat load of copper, gold and iron ore around the place. The key difference is the ease of discovery and barriers to (production) entry. They are ridiculously low for graphite which is why we have seen so many players and market miners jump on it over the years. Its been an epic gravy train of fees with no real result for almost all involved.
