Yes, I'm afraid we have to face up to reality but its not a crash and burn situation and the assets are worth considerably more than the debts. I suggest reading ROC's quarterly. Is very bad. The only bright spot is lithium. Lithium is currently the only resource with increasing demand and price. Maybe that will change when more Li2CO3 producers go into production (expected 2014/2015). But maybe not?
The Koreans claim to have a lithium EV battery that will charge in under 1 minute. See here
What if the Koreans commence selling EV cars for the same price as petrol cars and you can fill them up in one minute for $12? Would that sell? Would gas stations, parking stations, employers, homes, etc, provide charging outlets for these cars?
Maybe that's why the Koreans are spending so much on EV production?
GXY Price at posting:
7.8¢ Sentiment: Hold Disclosure: Held
