My musing on EGR based on recent releases from company, feedback from AGM attendees and discussions with EGR Mgt since AGM. As I can't verify same, please take everything with a grain of salt and a IMHO.
Epanko framework agreement working to finalize above all else...and very soon as in very soon.
EGR looking to expand Board to include skill/gender/geographic diversity. Have started soft sounding people. At least 2 maybe 3 additional Directors
European eMobilty and Green initiatives, US initiatives to secure strategic mineral supplies drove Kwinana reversal decision. Both willing to pay higher to secure suppliers that meet their criteria. In both cases SGP would be developed in conjunction with Battery anode /battery manufacturer partner.
US and Europe SGP will be co-located with partners. Hatch BAM team looking at potential US sites Canada sites.
Another driver for Kwinana decision was cost ... they need to establish their own source of graphite including purification and shaping
Continue producing samples for potential customers
Shaun O'Neill is gone leaves Jan 23
Innogy is ready to go awaiting improved market conditions by BOD. ASX approved. David the EGR London geologist in Tanz doing value adding with work on nickel tenements pre demerger and work on expansion of resource base at Epanko and Meralani
RAP at Epanko will need to be refreshed but better community support now than ever before. Also equator principles have changed so that requires updating too in lead up to the FID on Epanko.
Ecograf London part of Epanko framework agreement structure
Ecograf Mauritius is now gone
Patents. No down side if lose albeit believe processes unique .. only upside if win
What do I thing it all means? That I am still not 100% firm on. I don't think Kwinana is dead ....but it is while there is still cheap Chinese SG feeding into the markets and the impending bam shorters aren't quite here yet. So partner on SGP in better $ jurisdictions..it might take a bit longer but in the interim Epanko can come online and with Tanz based downstream US and Euro SGP can operate more profitably and faster.
What will move the dial now?
Epanko framework Agreement signed off is a good start A firm signed agreement with SGP partner and the first joint plant site announced in US (likely first over Europe)
I think Dale and Howard particularly are pushing hard for things to go from theoretical to actual...lets see if they can get Epanko finally signed off for a start.
On the communications side. If they didn't get the message on communication then there is no hope for them and Strike 2 will come. In the interim Strike One is there as a constant reminder to them that Great/Good/Normal/Bad and Ugly news, delivered by an honest well spoken reliable company leader is always better than no news.
Further, the company needs to present itself as reliable and open. Projects need to have financials and project plans with deliverables. All the current projects need to be updated to provide the market with these. All.
So you have pivoted to Epanko and say that it will be soon...real soon. Good. Deliver....and provide the market with clear plans on what comes next after Framework along with updated Financials project plan and milestone dates.
And deliver the partner name for SGP and detail what together you are planning for EGR SGPs rollout across US and Europe.
IMHO... Seriously hope the company got the message and immediate starts to change....if not it is going to be a long and busy year and we will be there to keep up the pressure.
