Originally posted by benspurgin
Hi Folks
As a dreadfully exasperating year for KNL'ers draws to a close, I cannot help but notice that Epanko has definitely slipped to the No. 2 spot in the Company's public narrative of its priorities. Is Tanzania dead now to Western foreign miners? All appearances suggest so. Lots of photo ops, but no ink on contracts.
Of course, we are fortunate to have Frey's 'fall-back' position to hope for an alternative source of income, but what of the millions of shareholder's funds spent on planning and development costs already spent to get Epanko 'mine-ready?' I have this nagging fear that the Chinese - who are now firmly embedded in East Africa - know all about our fully-prepped graphite mine and its potential. The Chinese have infinite patience and no shareholders to placate. They also know how to sweeten a deal the ol' fashioned way!
Securing finance for Epanko must be the priority and our Board's focus now, lest Epanko slip away along with our funds and confidence in our management.
Please tell us what is going on.....what's the hold-up and what is our proposed solution(s)?
Hold-up would be because of this.. I'd guess.
As previously reported (refer ASX release 2 October 2018, Research and Development) Kibaran is engaging withthe Australian Taxation Office (“ATO”
and AusIndustry in relation to its research and development programs. Areport detailing eligible expenditures incurred on experimental activity during the year ended 30 June 2017 hasbeen provided to the ATO. The programs in question comprised cutting-edge ‘clean’ and ‘green’ graphiteprocessing technology experimentation conducted in collaboration with industry leading expertise, includingAustralia’s Commonwealth Scientific and Industrial Research Organisation (“CSIRO”
and led to a break-throughnon-hydrofluoric acid purification process over which a patent application was first lodged in 2017.
Pretty vague tbh.. The programs with CSIRO would not have cost near $2.8 million to find 'clean' and 'green' graphite tech when another company I know of did it for less than probably 10% of what it supposedly cost KNL.
Good luck
IMO DYOR
#RunFarFarAway
(20min delay)