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Canada: Fundamental Research sees “long-term upside” in Focus Graphite

Fundamental Research has initiated coverage on Focus Graphite (CVE:FMS)(OTCQX:FCSMF) with a “Buy” rating and sees the stock fairly valued at $1.21.

Focus Graphite is focused on development of the 100 percent-owned Lac Knife graphite project in Quebec.
The deposit has several significant upsides including very high grades, a good quantity of large flake and is located in a region with well-established infrastructure. At 15.7% Cgr (carbon as graphite), Lac Knife is the highest known graphite deposit grade in the world.

“We are extremely encouraged by this estimate which, we believe is the highest grade graphite deposit in the world,” Fundamental Research analyst Siddharth Rajeev said in a note.

Metallurgical testing shows the deposit contains 46.1 percent large flake and 39 percent medium flake with a global recovery rate of 85.9 percent. Large flake graphite is the most valuable form of graphite.

Flake graphite has been experiencing increasing demand for the primary reason that only flake graphite can be used for high-growth applications such as Li-ion lithium batteries, fuel cells, and nuclear reactors.
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