To put in perspective what has and hasn't changed over the past 9 months through a period which has seen the share price plummet for many I thought I would list a few items that may or may not be relevant to the long term downtrend.
What has changed?
The most important thing to change is market sentiment. Despite all the rhetoric relating to future growth in demand the professional institutional market has clearly avoided the sector.
Cash balance has gone from a high of nearly $ 8 million to about $1.5 million at the end of this quarter going by the company's forecast and a cash balance that suggest a CR is both needed and imperative.
Dilution factor - clearly the ability to raise money at 10 cents per share is no longer realistic. The effect of dilution now relative to what it was is significant which is a problem IMO given that I believe the company needs $8 to $12 million to complete a BFS with necessary working capital.
"the Donald" - Trump and his pro fossil fuel approach is a big factor here on the worlds biggest economy. After all he believes "that climate change is a hoax perpetuated by the Chinese". He is pro oil, gas and coal all of which are bad for batteries. In saying that he is of course all about making America great again which probably falls in to line with Tesla's stated objective of sourcing all of their required graphite from North American sources (as they have plenty of it).
The price of graphite is now by all reports at a 10 year low.
So what hasn't changed?
People on this forum not acknowledging any of the points made above and the continued belief that this is "professional traders" shaking stock from loose hands.
The inability of any graphite player to successfully procure conventional debt financing .
The lack of price transparency in the sector.
The lack of EV penetration as a percentage of overall Automobile market share to move up to a meaningful level. In general the numbers continue to disappoint.
The Samsung Galaxy 7 - showing the amount of massive brand damage that can occur when one of these Li ion batteries goes horribly wrong and that's the reason why battery producers everywhere IMO would love a better alternative.
Infrastructure in Tanzania
VRC's low grade resource with an unrealistic cut off grade of 1.3%. It might be the biggest resource but that's due to the ridiculously low cut off. IMO try mining this sort of resource with robust economic gain.
SYR going to production - this is happening and IMO they will flood the market.
Following on from this point if raising money in the pre SYR production era is hard then I can only imagine what the post production era.
The increased issues relating to Al jihadists across the border in Kenya which are now becoming an issue in Tanzanian.
The lack of binding off takes executed in the sector.
If anything else comes to mind I'll post it at a later time.
Btw
@thegoodoil21
Over 12 million shares traded yesterday so I don't know where you get your figure of 5 million from. In any event you said that "professionals" we're playing games and selling down to buy at cheaper prices.
Now you're saying you bought stock which is fine but that's hardly explaining the point of professionals selling down to buy back. IMO you're confirming what I said that someone was selling and others such as yourself are buying.
I've asked you previously but how how much money do you think the company should retain as a prudent cash balance before it goes to market to raise additional capital?
(20min delay)