While i think you have half a point sharemadder, i think what they're doing with the $11m will add value. Short and long-term.
They're drilling Epanko which remains open in all directions. We have no idea how big it is because they essentially stopped drilling when they found what they were looking for (enough graphite for a hundred year mine!). It could well be an unparalleled resource!
Longer term the spherical graphite research/plans will add hundreds of million of dollars. But that's longer term.
Ann: Notice of Annual General Meeting/Proxy Form-KNL.AX, page-95
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