They raised a huge amount of money specifically to build stage one of the plant.
They got the money, then said they were starting engineering works and that was the last thing shareholders ever heard. Its been what 2 years now? Now they've abandoned that plant and idea but kept the millions
This management is the definition of lifestyle directors and a lifestyle company. They have achieved nothing for many years and i dont think any insto would back them again and I also dont think anything will eventuate from their plans.
Theyve been "working" on Tanz for so many years. Then abandoned it and now they're at it again. Just anything to keep the ball rolling looking like theyre busy while actually accomplishing nothing. Have you noticed everything is always "imminent" but stays imminent for years without actually happening.
All they do to keep shareholders hooked is ongoing graphite quality testing and lease extensions and approvals etc. Thats why smart money left and nobody is taking them seriously anymore
The worst thing is not keeping shareholders updated and in the loop with whats going on. No transparency. That includes why they abandoned the stage one plant and that entire business. Huge red flags everywhere, just fluffy green presentations for marketing the same BS and you suckers keep falling for it im sorry to say
EGR Price at posting:
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