Could you link it? I haven't been following GXY threads. i think the hope is very slim, unless MC or someone on the board has some kind of hidden stash to recapitalise. I'm pretty sure these turn of events would turn away any potential investors, unless MC gets kicked out of the board. If what GXY said was true that the board chose VA without telling GXY before hand, then I think MC's name is probably at rock bottom with no one willing to trust him. The other possibility is Jiangte coming in, but I don't think they have much cash. All converter plants are fine tuned to the feedstock it accepts, any change in feedstock can adversely affect the recovery rates of lithium. Not sure how long it will take them to fine tune, but since they are already facing issues with ramping production, a change in feedstock is probably not what they would be looking forward to. the final possibility, even more slim, is the non-chinese off takers coming in. They've taken samples to fine tune their converter plants many months ago, if their final product is good, they might want to secure their supplies by buying the company out. But going by the fact that we've heard nothing from them and BOD's lack of updates on the progress, I'll assume that things have fallen through. all things considered, I really have no idea what's going to happen, but I'll write this investment off and take it as lesson learned. No matter how small the debt may be, as long as the interest rate is high, avoid the stock at all cost.
A40 Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
