BKT: the Ugly Duckling of Tanzanian premium graphite

from the last time  started an 'Ugly Duckling' thread (on AMN), the share price has more than doubled from 15 cents to 36 cents; therefore will try my crystal ball hand here, again

* BKT just announced the 2nd highest grade metallurgical results in the market (after from MNS)

* the high grade result of 99.1% TGC (like MNS) was achieved without using acid

* like MNS, BKT appear to have no vanadium impurities in their ore

* MNS have indicated their 99.5% graphite commands a premium price of around an additional $1,000/t because it does not have to be shipped to China for upgrading to 99.5% battery grade concentrate (the benchmark for battery grade natural graphite)

* BKT have indicated there is scope to further improve their concentrate impurities

* The BKT flake size distribution is excellent, with 54.3% of their basket being large size flake or larger and 86% of their basket achieving 99.1% purity

* MNS current has a market cap of $522M fully diluted (after subtracting in-the-money options cash)

* BKT currently (at 6.5 cents) has a market cap of $19M fully diluted (after subtracting in-the-money options cash)

* MNS have declared a Mining Reserve on the Block F and FS orebodies totalling 76 million tonnes at 4.79% Cg for 3.6 million tonnes of contained graphite

* BKT have suggested an initial Mining Reserve of 12 million tonnes at 10.5% Cg for 1.3 million tonnes of contained graphite however BKT have an inferred resource of 131 million tonnes at 7.9% Cg for 10.4 million tonnes of contained graphite

below is the capital structure of BKT, who will have around $2.6M in cash reserves at 30 June 2016