Quote: Management updates us on some 'random' Joint Venture results which indicate poor results. Why is management focusing on branching out when we have to bring a mine out of the ground! Did PLS, AJM, etc focus on obtaining additional Joint Ventures and new community mines when they were focused on delivering a mine?? No, they didn't! Why is WKT focused on new tenements in all parts of the world when 'we have the best graphite in the world under our soil with a mining licence'???
What shareholders need clarification to is the following;
Where are the off-takes?
Not required and now a Conditions precedent...item
Price tension is expected with further pressure moving closer to the managements time frame...Had this been locked in 24 months ago would have been a mistake...
Who are the offtakes with? and at what price, terms, etc?
Prevailing markets and discounts to the spot market...The market is opaque...Forget about the average basket price for flake size...
When are the long lead-in equipment and items being delivered to the site?
WKT have had the mining licence for a couple of months and there have been no comments in regards to the above!! The more I review what WKT has the more I actually believe we are further away from any potential for a long long time (if at all). So many boxes are yet to be ticked in progressing forward.
No one will provide funding without offtakes, offtake partners won't sign agreements without the certainty the mine will be built, long lead-in equipment cannot be purchased until both have been signed, etc, etc.
Funding was provided and no off-take partners have signed...Lindi was the first to comply with the new mining regulations...First to be debt-funded outside of China...
We need progress on TANZ not on some 'random' unfruitful Joint Venture tenements halfway across the world - which is highly speculative. I appreciate this stock is a spec stock, however now a mining licence is obtained, etc it has the potential to convert into a mining junior rather than stay spec and everyone loses money.
Many holders are excited to drill Black Craig and Amani...If the budgets and balance sheets ensure a buffer zone...Expect an announcement on this front IMO...Not sure what you are disappointed with almost all your previous bullet points being ticked...Maybe you would prefer to make another list...
The register is in accumulation mode...Take it while it last's...
The project is expected to be in production second quarter of 2021...In my book without any improved updates to the economics of the project gives $1.21 2nd Quarter thereabouts
(20min delay)