Careful there tovarish. That's borderline El primo misconstrue mark twaining there. I'm glad others have finally come to the realization that an ex-mining operation can be 'helpful' and 'instructive' but this is a line of thought I have had for much longer than implied (and inferred) by your post above.
http://hotcopper.com.au/threads/graphite-gluttons.2388204/page-9?post_id=14193821#.VPURxMkzHqA
The 1000 drill holes into a balloon called in Nicanda and the 200kts scope came later - and my objections and disappointment at that chosen strategy happened after my Kenmare 'theory' was expoused and put on 'record'.
Now duke is right in his search for 'unique' deposits. What he and I disagree on is the definition of 'unique'. To him it's about sciencey techie psd darth Vader 007 pom poms - but to me unique is correlated highly to end usage - conversion of sales - money. If it was solely about accessing a legacy mine then VXL would be at over 100 mil market cap and not breaking down. Same goes for a lot of the others with legacy operations.
Who were VXLs previous customers? This too may be 'instructive'. Even for KNL - who's Merelani asset was in reality only off taken at amounts nowhere near the promised offtake amounts in contract - but maybe the word 'binding' wasnt used - or as i suspect, the word binding is being used to create 'confidence' when there should be none. And if memory serves correctly one of the stated flaws for why Merelani couldn't keep their operation going was stated as 'lack of due diligence into niche markets' - I am paraphrasing... but it was something along those lines.
So too I believe WMN will be instructive - but only to those who open their eyes to see. And TON still roving around 'blind' imo given that the word 'recarb' is yet again missing from their release today. As the saying goes - you can only lead a graphite supplier to a customer - the 'donkey' makes up its own mind on whether it will 'drink'.
That last part is creative license on an old adage fyi...
Cheers tovarish. Happy trading.
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