I have positions in NGC and FDR owing to their near-term production status. IMO, they will be the first in the race to production and thus, will capitalize on the good pricing fundamentals. Both of these stocks are also starting to trade well relative to other graphite stocks (other than ZEN who has gone up 8 times since its low). FDR in particular appears to be finally starting to pick up. TA speaking, wouldn't be surprised if starts to break-out like NGC currently is. $50 mc is an extremely favourable risk/return ratio. And no to little further share dilution. Will be a small producer, but on a share profit basis, could see multiples of current valuation.