SP upward movement will not last.Its the nature of this beast (FMS). Look at the chart. Furthermore, the graphite is very crowded and more players being born in this sector year after year accross the globe. Also, newer technologies coming out could cloud further the future of the graphite sector by using other materials.
The only thing in it for shareholders is future dreams that the CEO is cooking up for them and he's doing a very good job at selling. Shareholders deserve the losses they get with FMS.
If buying dreams makes shareholders happy and in the process enrich the CEO with salary, bonuses and retirement fund while giving no shareholder value in return so be it.
All in my opinion.