Well, I'm so pleased that our EVG team started with a readily achievable downstream project based on low CAPEX, a high-margin product that has relatively stable prices... and built the JV using an experienced team in India, namely Metachem.
It seems that while the issues with Lindi Jumbo extend from delays at the port (aka a govt issue) and onsite issues with graphite dust impacting electricals (aka a design flaw), I can't understand WKT directors allowing their finances to drop to the point that it has - a couple of hundred k in the coffers. No wonder Gemcorp rushed to cover its arse.
It is difficult to comprehend how boards, that receive substantial compensation in public companies, can exhibit such recklessness and carelessness. Despite WKT being in suspension and deemed to be "VA," no doubt it will be resolved in due course with operations to proceed without interruption. This scenario would undoubtedly create stress for SHs, though, and is certainly not good for the company. Whether it tars the entire graphite space with the same brush, lets hope not. No doubt there will be some on HC to try it on, though.
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