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  5. SWAN: May I please have your top three or four graphite producers that are relatively safe? [Black Swan Graphene Inc.]
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Q: May I please have your top three or four graphite producers that are relatively safe?
With appreciation,
Ed
Asked by Ed on January 02, 2026
5i Research Answer:

While we feel the space is largely still emerging and it has several risks attached, we think that SWAN, NOU, NGC, look interesting in the space, and have been showing decent momentum. Although, these are all very small names, which are mostly unprofitable and generate negative cash flows.

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