the word in mining is "grade is king"
for example, in iron ore, there are scores of billion tonne low grade deposits in the world, including many low grade companies like GBG, SDL, etc, that have lost billions of dollars for shareholders
grade is king my friend, which is why your beloved TON is hyping Acuabe (whatever)
TON has floor price provisions at $650 and $750/t in their contracts, showing what is possible when the world is flooded with low grade graphite and how skinny the TON margins might become
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