C28, after taking a look at the Shamokin & Ashland websites, I can easily envision DNI being part of a supply chain like this:
1. Automaker or Other Industry Manufacturer
2. Battery Manufacturer
3. Processed Graphite Supplier (GLK Partner)
4. Graphite Supplier (Great Lakes)
5. Graphite Wholesaler (DNI Metals)
6. Brazilian Graphite Source
Once Madagascar is online, you have the option to get rid of 6., which results in a combination of lower costs/higher price margins up the chain.
DNI by itself, with either the acquisition of PRO, and/or a central processing plant in Madagascar built to ISO or SGS standards, could move into the 3. spot, and maximize revenues by working with their own clients.
I could come up with many more scenarios, but once again, right now it's all theory and speculation, but it is a realistic vision.
Also, make note of all the industries that those companies serve, as well as their global reach through sister companies, network partners, etc.
The 60%+ jumbo & large flake at Vohitsara, and its potential SPG applications get all the "press", but as you are probably aware, most money in the graphite industry is made from medium, small, and fine grades, in what's seen as dull, boring and "unsexy" industries, like: foundries, steel plants, powder metallurgy, refractories, etc.
The importance of the other grades, and their usage in vital industries, should not be underestimated.
Have a great weekend,
Luke
