Reading through EGR (am not a holder) last ann to their shareholders shows the complete difference in professionalism, business acumen, strategies, vision of what is lacking with TON's management. They got multiple streams of businesses planned, all linked to graphite from mining, manufacturing to recycling. A company with real vision and strategies to move the company forward. No wonder their market cap is much much higher than TON.
And for what is worth many companies are progressing their business plans forward despite Covid 19 and this is evidenced by their announcements.
And TON?? The last honcho blamed Covid restrictions not being able to find alternative financing or interest to our other assets. Compared to EGR our management is like a bunch of schools kids waiting for finance handouts from one and only party for the company to survive.
And worse, completely no Plan B despite the fact TON is sitting on multiple world class tenements not on one but two, graphite and vanadium resources. TON got all the graphite grades to meet any demands required for any endusers or type of products. Yet the management feel it good enough just to wait for only one party for finance and target only expandable graphite now. What's the cost of having a Plan B in place?
On the financing aspect - The last bean counter CEO confirmed we already got 50% of binding off take and have no trouble of getting customer/s for the remaining 50% with great IRR for the Ancuable project alone. Yet here we are sitting on the largest graphite resource in the world yet unable to finalise finance or attract any new investors.
Will the acting or the new CEO bring any positive change or the Chinese already got all SH / TON's b*lls in their grip??
I will be ashamed of myself if I am part of TON's current management. Pathetic is the only word to describe the current situation.
TON Price at posting:
5.9¢ Sentiment: None Disclosure: Held
