Buyer conviction, page-45

Syrah will be taken over - that will be the boards strategy. They are burning through cash and the longer it stays idle, the more expensive it is to bring the plant back up and running.

I reckon that come nide January 2021, takeovers will start coming. The board by then will be running down the cash (then will be less than US$40 million).

it is very risky to recommence production without an offtake agreement and for a guaranteed price. And given the board has failed to get recoveries to its target of 80% or get the flake proportion of tonnes per quarter up to 20% let alone their hoped for 30%, one would not be optimistic they will ever.

Nope - this will be out up for sale. And most disgraceful of all is that Mr Verner was awarded 4 million stock options less than 6 months ago, but at a strike price of only 43 cents per share. Disgrace. If ever there is a case for amending the law that such a low strike price on these options can be allowed, this is surely it. Let's hope if it does happen that they get over $1.00 for it.