The management experience with running a graphite operation...

The management experience with running a graphite operation isn't extensive but they seem to have a solid background in mining business. Your focus is very much on the economics of the business and the CEO seems to have a solid background in the business of mining. This might explain all the moves you have suggested to better promote cost and profit of Uley. With all this in mind surely there are some of unknowns they are working on.

Going back a bit when Uley was owned by SER there was lots of debate about whether there was enough expertise in Australia for a company to mine, market and then sell Graphite. We have a new company which seems to essentially be MEGA graphite which was formed to team up with what was perceived to be a group in Canada that had the expertise that was lacking in Australia. Something went wrong and now we have VXL (this should have happened a long time ago).

VXL still need to prove this expertise but the perception I get is that they are marketing the quality asset better then other companies that have owned Uley. I am also skeptical about MOUs and SER used to talk about potential customers in Asia etc. A lot of those communications didn't add a lot of value but VXL is definitely making positive steps. It's a spec/risky stock but there is a lot of potential value. The new large size flake has potential to allow VXL to lead the market. The trick will be how they turn potential into valuable business. How can the large flake solve current business problems that the lesser quality is creating for manufacturers? If a market evolves based on flake size primarily then VXL will dominate. If Chinese companies don't have this quality then they won't be able to compete. Unfortunately right now the world doesn't have lots of companies making miraculous graphene products with graphite being the only material that will allow you to make graphene. Nor right now do we have lots batteries being manufactured that need very high quality graphite. All of these would make the economics of Uley far less risky. Until then all they can do is make VXL and the value of their product known in the market and the investors in the market.

It's a credit to them that they've managed to keep someone as cautious, rational and business minded as yourself interested even though it is a risky, spec stock. Surely there are plenty of others like yourself that will help to push the stock once VXL get some solid economic details.