A few graphite plays that we can compare with on the ASX: SYR:...

A few graphite plays that we can compare with on the ASX:

SYR: $946mil MC, massive producer + technology dev
TLG: $152mil MC, graphite deposits + processing technology
MRC: $91mil MC, advanced explorer
FGR: $67mil MC, producer
BSM: $64mil MC, producer with off-take agreements
TON: $60mil MC, advanced explorer/near producer negotiating off-take agreements
HXG: $54mil MC, advanced explorer
BAT: $51mil MC, near producer with off-take agreements
VRC: $42mil MC, advanced explorer/near producer negotiating off-take agreements
KNL: $36mil MC, advanced explorer/near producer negotiating off-take agreements
SVM: $33mil MC, advanced explorer

Bear in mind that most of these companies also have other projects going at the same time, just like MLS. Hence there are many other variables responsible for MC, but you can get a rough idea of where MLS sits. From this comparison, it seems reasonable to expect a short term target to be somewhere within the range of $33-60mil MC. This roughly translates to $0.014 - 0.026 per share. Add on developments with the lithium, cobalt and zinc projects and the SP should be well above this.

MLS current SP: $0.005

- Graphite results due imminently
- Lithium metallurgical testing results before 27 April + XRD analysis results due before/between 4-11 May

Meanwhile the bid stack continues to build pressure.... a ticking time bomb before the SP explodes