Ann: Evion Awarded EU Strategic Status - Maniry Graphite Project, page-74

Hi Cran & Blue

"Why do you only give revenue projections for Panthera and no profit projections."
You've advised of profit margins Cran - not actual profit. What Blueman is asking about is EBIT projections. Ebit is what allows investors especially in private equity provide a valuation. My assumption is the JV management still are unable to secure any new sales orders thus they cannot project anything.

"Why would you want to increase tonnage at Panthera when you can’t even produce at 100% capacity now."
We were advised they completed studies and it was ~800k for upgrades and SH raised capital for this earlier this year which was sent to the JV... So if management knew there are still delays in being able to achieve maximum capacity, why were they in such a rush to transfer money to the JV? With the latest update saying they are still "conducting feasibility" studies. So my assumption is that the money actually went for emergency cash assistance to the JV instead. Which is fine... things like this happen, but why no transparency to all SH??
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As of the latest quarterly...

"Again, without the environmental study signed off, we have nothing"
'60days' is up... so maybe it was '60 business days' ? Or was this a DR "imminent news strategy to maintain speculation" ?
We will find out at the end of the 60 business days i guess which provides time till end of next week..
IMHO it seems more like it was a ploy to deter tax time selling advising of "imminent news" which clearly doesn't seem to be the case.

All I ask is for proper transparency so all SH can manage their investment equally. Anyways, If management don't pull up their socks, i may have to travel to India myself to see this JV. Having my holding move ~1.3k per pip - I think making an investment of 1 pip to get myself to India to get an idea of what is actually going on is worth the money...

GLTAH