While they are closing in on the first vein nearest to Shaft H, I do not think we can say that they are mining yet. They are certainly in the horizontal drive, working their way towards the three veins that have been identified off Shaft H (including the "historic" vein of extremely high purity, over 1.7m thick).
It all depends, of course, on the definition you ascribe to the word "mining". I'm not trying to be tricky here, I just want to put into context, the statement in the video.
That video was filmed some time ago, presumably arranged for later release by the journalist involved. The last time First Graphite attended a show and had their own stand was at EDTech at Santa Clara, mid November of last year. I don't think that video has been used before - I haven't seen it published anywhere. I think it was done by the US based journalist while WG was in the area, to be released later when certain developments had progressed, so the reference is to the fact that FGR are "mining there own graphite", in a general sense, rather than just making Graphene in their Cell.
In an earlier sentence in that video, Warwick says "in mines we are developing", so I think that reflects that the "mining" he refers to follows on from that statement, and is of course, referring to a period some time after the video was filmed - some time in the future.
And yes, that big chunk of Sri Lankan crystal vein graphite is from one of their own mines, (it was taken from the Santa Clara show to the Annual Meeting in Sydney, where it was on display). So if you wanted to be pedantic, you could claim they have been mining, (trial mining)
Some might say that what they are currently doing, drilling and blasting their way along the drive towards those three veins is "mining" in a sense, but I think you will only see an announcement about something a little more definitive - at least chipping some graphite from the first vein they reach.
I know they would like to publish a photo of a heap of their own graphite in their new warehouse, but they are also well aware of the interest in their progress along that drive off Shaft H.
And don't forget that the nearby Shaft J at Aluketiya does not need to be as deep, and is also not far from production.
It may not happen overnight, but it will happen.
We'll soon get the news we are waiting for.
FGR Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
