Ann: Update on Epanko Graphite Project and Pilot Plant Strategy, page-70

Hi guru, how much do you think they will try and raise and at what price? They will probably need to do this very soon.

The last CR that was done was at a 15% discount and 23c per share. Those that took part are well down on their investment and not a great deal has been achieved by the company since (apart from agreeing to buy a pilot plant for Christoph Frey's laboratory)

The company recently layed off staff but found it fit to reward themselves via resolutions at the AGM.

Even if the CR was offered at 12c why would you take the risk? The company is just sitting and waiting claiming finance is due any day now (they have been saying this for almost 3 years now) and absolutely miles out from their forecast of production in 2016. They also appear to have no plan B if mining graphite in Tanzania doesn't work out.

My thoughts are this next CR will be extremely difficult to get across the line (and likely fail). You need some really positive news from Tanzania or finance formally offered imo.

Good luck holders your going to need it.

All IMO and DYOR