What stands out for me is the relatively low admin cost for the company for this quarter around 400k to be compared with talga that was closer to 600 in their october report and 900 for the work itself. I don't like my money to be syphoned by administration.
Other points:
- there is a (small) diversification of clients between IM (Grigor is chairman there) and the oil company.
- IM wants a product with specific characteristics (and apparently patented http://imgne.com/solutions/surfactant-free-graphene/). So the danger of having a low quality graphene hard to sell seems unlikely, especially given that IM partnered with FGR on the 1st of September when the announcement that the University of Adelaide confirmation of commercial viability was the next day.
It therefore seems that the production of high quality graphene is very likely. And that is, in my mind, the biggest barrier to entry for potential competitors.
On the "bad" side:
- still no licence
- we will need another capital raising in 6 month if we continue at the same rate.
Ann: Quarterly Activities Report, page-6
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