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4.5¢ first graphene limited

Ann: Quarterly Cashflow Report, page-26

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30/04/18

22:08

Post #: 32783803
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Originally posted by Yowie21 ↑

What’s graphine?

I miss these days, such a good business plan.

MRL raises $4m to fund start of high-grade graphite production
MRL Corporation (ASX: MRF) is pleased to advise it has received commitments for a placement of shares at 5.5¢ with attaching options on a 1 for 2 ratio, raising $4 million. The placement is to be settled in two tranches with the second tranche due after shareholder approval at the forthcoming AGM, on or about 18 November 2015.
Far East Capital Limited, the Lead Manager, has advised that the placement was strongly bid for by strategic investors and high net worth individuals.
Upon completion of the placement MRL will be well-positioned to proceed with the development of mine shafts at its high-grade graphite projects in Sri Lanka, where production is on track to start in late 2015.
MRL’s strategy involves developing a number of shafts concurrently, enabling it to ramp up production rapidly and begin commercial sales in 2016.
The proceeds will also enable MRL to conduct further research and development on the suitability of its high-grade graphite for down stream processing into higher value products, including but not limited to, premium-priced graphene materials.
MRL Managing Director Craig McGuckin said the Company was now well-funded and set to monetise the value of its high-grade graphite assets.
“We are now well on the path to production and cashflow from graphite production,” Mr McGuckin said. “We also have strong potential to enjoy substantial sales growth on the back of the promising graphene market and we look forward to pursuing this significant opportunity.”

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Soo, my take on that is, they worked out it was better to turn their grafight into graphine and monopolise on the asset they mine smart idea. Bit like making honey from your bees...right ?
Going with the phlow...

FGR Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
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Last 4.5¢		Change 0.000(0.00%)		Mkt cap ! $30.13M

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4.0¢	4.5¢	4.0¢	$8.108K	192.1K

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