Interesting QTR Report & cashflow report,
Virtually zero sales, I think this was forecast due to the company only receiving NICNAS in May, if we have had any decent sales they will most likely show up in the September QTR report.
Traxys loan that was used to secure FGR Sri Lankan graphite stockpile was paid out, ($588k)
Property Plant and equipment cost of $400k (no idea what this is for? could it be FGR's additional Graphite stockpile?
R&D is high at $1mil with no real details in the QTR report, I was expecting to see some details on GEIC progress, GEIC has been operating for at least 6 months.
Cash at 31 June = $3.72Mil,
FGR has also had had another $1.32Mil option converted since the end of June QTR
Total Cash approx $5.04mil. FGR expects to receive additional funds to be raised from the options prior to 8 August 2019,
FGR currently has enough cash backing to operate for nearly 12 months, without any graphene sales.
No mention of the companies that FGR have been negotiating with, that required FGR to secure additional stockpiles of Graphite.
USA - EPA approval is progressing.
Is anyone else surprised that the QTR report is very brief?
Interesting QTR Report & cashflow report, Virtually zero sales,...
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