whatsnext
This is where I disagree with you. There are many positive influences that could increase the share price in the coming months without a takeover bid.
1) Continued positive drill results on Targets 1, 5, and 6
2) Further information on moving towards production including offtake, mining licences, capital cost estimates, traditional landowner agreements.
3) Positive news on South Korean assets.
4) The metallurgy results on the McIntosh assets (due shortly)
Any of these could shift the share price.
In terms of raising cash, I would like to see two possible scenarios
a) if the shareprice went back towards a more reasonable value I would hope Richard would do a placement and maybe an institutional offer to raise enough cash through to production.
b) if the shareprice is sub say 20c then doing a placement to existing shareholders to raise enought to finalise BFS on at least one asset would be the right way to go. I think existing shareholders would not want to get diluted out at these levels.
What is holding this share back, I beleive(my opinion) is one or more of the following:
a) the overall market negativity towards mining (and lack of market liquidity in small caps),
b) the uncertainity around graphite plays. There is a lot of contradictory messages in graphite on what is good and bad including a lot of active debate. Throw into this some companies that pushed their stories which ended up to be rubbish and investors are now sitting on the sidelines. I think only offtake agreements will prove the point (ie. if someone wants to buy it, then it must have a value)
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