Man, what a pathetic attempt to pump the stock price. As always since 2017:
"Non-binding agreements signed to support sales and progress development of a purification facility, while discussions continue with a range of auto OEMs, battery manufacturers, and potential supply chain customers."
Where is a binding contract for once? How many thousands of non-binding agreements does Andrew have in his drawer by now?
Take a close look at those few seconds from the video of the PQF Plant. You can clearly see that the old equipment likely comes from the research container in Germany, which has now been installed in an old factory or warehouse in Australia. The floor shows that the hall is old and has been standing there for years. This move was necessary to get the A$2.9 million from the Australian government, which Andrew has probably already squandered.
"EcoGraf is evaluating a number of potential development sites as it expects customer adoption of new non-Chinese demand to significantly grow in Europe and North America, underpinned by increasing EU legislation and US Government tariffs."
Andrew doesn’t even have enough money to build one plant, so why travel the world looking for additional sites? Oh right, he needs reasons for the pleasure trips.
"Supporting EcoGraf’s multi-hub growth strategy is the positive customer feedback received from product testing."
Andrew has been claiming to receive this positive feedback for years, yet there is still no binding contract. He always talks about “customers”—but what are their names?
This announcement is meant to fire up the struggling stock price, likely because a capital raise is coming soon. The KfW deal still seems to be months, if not years, away. And even if those millions from KfW ever come, they will barely be enough for the mine—especially with Andrew’s spending habits. The purification plant will have to be financed through a capital raise anyway. Andrew already had the money for the plant in Australia. The plant was never built, but the money is gone.
Well, Andrew, you’ll have to come up with something better. People aren’t falling for the “World-Class Resource” presentations anymore.
They want real results now.
- Where is the SML?
- Where is the KfW loan?
- Where is a binding offtake agreement?
- And when will EGR finally be an EBIT-positive company?
(20min delay)