8/10/2013
NBT Research Report

We are initiating sponsored research coverage of Western Graphite, Inc. (WGSP) with a $5 short term target based on their preliminary high quality “flake” graphite reserve estimates at their 5000 acre Pure Flake mine in...

Initiating Coverage: Western Graphite Inc. (WSGP): The BOOM In Graphite Mining IS Here
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Initiating Coverage: Western Graphite Inc. (WSGP): The BOOM In Graphite Mining IS Here

Initiating Coverage: Western Graphite, Inc. (WSGP)

Short Term Target: $5
Shares Outstanding: 58,000,000
Float: 30,000,000

We are initiating sponsored research coverage of Western Graphite, Inc. (WGSP) with a $5 short term target based on their preliminary high quality “flake” graphite reserve estimates at their 5000 acre Pure Flake mine in British Columbia, Canada and @1000 acres in Southern Turkey known as the “Amorf Graphite Property”. We incorporate a $2500/t price for high purity large flake graphite and $10,000 a ton for processed spherical graphite. We DCF model 20,000 tons of graphite production for 20 years at full production.

Our Investment Thesis: We expect high purity (94-97%) large flake (80+ micron) graphite to double or triple in value over the next 12-24 months due to  

  1. enormous strategic value to both the Western world and China/ India
  2. rarity of Western based high purity/large flake reserves relative to low/mid quality graphite
  3. Chinese demand for “nuclear grade” carbon graphite for its rapidly expanding nuclear power plant development
  4. Rapid expansion of lithium-ion battery production and graphene applications…all derived from high purity large flake graphite.

In short we are very bullish on very high grade/purity “flake” graphite…it’s really one of the key resources of the 21st century.

Click here to see our report on Western Graphite Inc.

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