Ann: Quarterly Activities and Cashflow Report, page-151

In my opinion the graphite sector is dead and has been for a while. Volt is in plenty of trouble here.

The project hasn't progressed in at least 6 months and the NGI deal was perhaps a desperate attempt to stop the price falling. It doesn't look real to me and now that management have positioned the company into a corner with no cash I'm convinced it was just a marketing ploy at the time. 5,000 tpa over 5 years is an insult. I'm betting that it wasn't 1,000 tonnes in each year either, probably a lot less in the early years. In other words, just another marketing pitch to make it sound better.

Trevor still hasn't bought any shares and according to many on HC it appears SH owns more Magnis. It doesn't really fill you with much confidence does it?

The CR won't stop the price from falling because they won't be able to raise enough capital here. My guess is max of $3m which means you get through another 3 or 4 months and need to raise again. You won't complete the BFS if you only raise $3m and the market won't buy the stock if they think it needs to raise again in 3 months with no real catalysts in between.

Or even worse they get desperate and sign a convertible note and every existing shareholder gets destroyed in the process.

What a lemon this turned out to be.

I've since found a couple of interesting investments and making some money back, it's quite refreshing.