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16:27
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Originally posted by MarlaSinger:
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I guess time will tell. I started following the story when DF got involved in an executive capacity. My understanding is that the original MD was taking the company and project into a high risk regime by looking to produce a spherical graphite product instead of the far simpler flake graphite concentrate. For a junior company, identifying, acquiring and then conceptualising the project in what was apparently about 2 years, I think they were doing a good job - but it was a mis-step to complicate the project configuration introduce more CAPEX and funding hurdles into the equation, not to mention the significantly higher technical risk.
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That's a good post, thanks. I think where they've (BAT) gone wrong is in the corporate strategy and financing. The proof of that pudding is that media reports now refer to Battery Minerals as a "struggling" company. In hindsight we as investors would say that David Flanagan should have hired or delegated the corporate finance/funding aspects to someone else from the beginning. However, for someone earning half a million dollars a year to do the job and with that much experience, perhaps he/they should have known. In any case, I've learnt from this saga, I hope David and the team have too.
(20min delay)