Energizer Verses Magnis Magnis Resources has 438.6M shares outstanding and sells for Aussie $0.69 (the Aussie $ is about the same in Can $). I feel EGZ with 461M shares outstanding is a better investment when one considers it's tonnage, grade and proven and probable reserves of graphite. In addition EGZ's vanadium ore body is larger, has better grades and is directly adoptable to VRB's ..
https://www.google.com/finance?q=ASX%3AMNS&hl=en&ei=83z8VdmpLsGCjAK6sIKoBg
Thus EGZ going to the same price as Magnis without a reverse split could be possible.