@bluebottle18
I honestly don't know enough about graphite to comment on project fundamentals, but what is clear is that both companies are in very different positions.
GPX funding: it receives US$80 million to build the mine (a mixture of secured loans and an equity investment) and all they have to do to unlock this funding is complete a BFS and get some resolution on the question of free carried interest. A few points:
- The Tanzania issue is largely resolved.
- The Company was already completing a DFS and the BFS is largely build on the DFS with the BFS due in October - I'm sure the quarterly will provide an update.
- GPX achieved this without ramping the share price with worthless BOA announcements (See WKT +60% share increase with three successive BOA announcements) and a global equity provider (Castlelake) did their DD on GPX and saw fit to fund them with some very reasonable and easily achievable conditions - hell they even lent them the cash to get it done.
- A global equity firm did their DD on GPX product, market, potential sales partners and management and decided they were worth funding.
- This is what a credible pathway to funding looks like.
WKT Funding:
- Raised some money to clear some forest
- Released a sudden announcement about "financing being progressed"
- ..........
- ......
I'm new to this space, but it seems GPX has achieved something very unique in the African graphite market and the WKT people seem extremely salty about it.
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- Patersons price target GPX 60c, later $1.35/share
Patersons price target GPX 60c, later $1.35/share, page-140
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