Agree Biggs - appears just working capital. At end of June qte...

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04/09/15

17:18

Post #: 15938633
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Originally posted by Bigglesworth ↑

Spot on Herc regarding the use of this relatively small amount of cash, when raised. I expect that the large majority will be working capital.

FWIW, I am waiting for something more concrete regarding proposed production, commercialisation of the prospects and off-take agreements and additional funding (if required). I have been in an out a few times but IMO we are now at the business end of the equation. Accordingly, we need some certainty regarding the above issues before I will get back in.

With the greatest of respect to other posters on this forum, it seems to me that the focus has changed somewhat from graphite to graphene. Don't get me wrong, I think graphene will be phenomenal in the future when its envisaged uses are identified and commercialised but we must keep in mind that graphene was discovered quite a few years ago now and the confirmed commercialised uses are relatively few. I'm sure this will change in time but we need to be conservative with our expectations IMO.

Anyhow, good luck to those on the ride and I look forward to some more positive news shortly.

Biggles

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Agree Biggs - appears just working capital.

At end of June qte they had 1.06m with projected spend for Sep qtrt of 0.9m (exploration/admin) leaving them with not enough to last another qtr, IMO

As it is now Sep this is just a small raising "in-house" to tide things over - perhaps allow holders as of yesterday to get a few more "cheaply"??

MRF Price at posting: 5.5¢ Sentiment: Hold Disclosure: Held
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