Ann: Steel Blue Signs Supply Agreement, page-54

Hi FShannon,

your situation covers mine to 100% ;-)

I really thought that this year the bullshit ends but it seems that I got proofed to be wrong. They claim to be the world leader, maybe that's true in case of promises.... World leader? They have a production capacity of 100tpa, Nanoxplore has 4.000tpa. They have some hundred k AUD in revenue, Nanoxplore has 60 Mio. CAD, others at least some millions (Versarien, Haydale, DirectaPlus, etc.)...

The only consistent thing they do is to miss their own timelines... It looks like Talga & Skeleton will win the race in regards to the German car manufacturers.

20201208BenchmarkWeek_Graphite+AnodePresentation_ASX (talgagroup.com)
Skeleton Technologies working on graphene “SuperBattery” for EVs, signs €1 billion LOI with a leading automotive manufacturer | Graphene-Info (graphene-info.com)

I was fine with the strategy to focus on the simple stuff (elastomere, etc.) in the first instance, promising a faster market penetration due to less regulatory requirements. But it looks like, before they are able to sell some tpa into this product vertical the others are selling hundreds of tpa to battery manufacturers.

Also why do they only have NewGen as customer? If its all so great and the mining companies are benefiting in a huge way why is there no other company jumping in?

In the end, investing into startups has a lot to do with trust. This trust eroded due to the faulty claims of 2019. To rebuilt it they have to deliver on their forecasts but sadly, until now, they did not.

Maybe its time to face reality and put the money elsewhere to work.

Cheers