FGR Chart, page-99

Gday @spid81, it seems to me that even if the bucket liners have been inspected (although we have no independent confirmation of that fact from any of the relevant parties) and there are certain benefits to using them by the big miners, that doesn't stipulate that the process is going to be formalized overnight. NewGen and the miners need to be convinced the tech works and importantly is that it is worth the big spend. Having been involved in large business enterprises in the past, if a decision to purchase the liners is made by the miners, the relevant sales terms (incl the cost) will need to be agreed b/w the parties. Then contracts will need to drawn up and ratified. This all takes time.

The issue from FGR's perspective as I see it is that the company have so far failed to inform the market or their shareholders regarding the finalization of the tests. It was spruiked that Nov 2020 would be the date of the inspection. What have we heard..... crickets. That my friends is simply not good enough. For as long as I can remember, FGR have struggled to properly inform shareholders of what is happening with the tech and whether those involved in tests are continuing or have walked away. Based upon past performance, I don't see that changing the CEO/Managing Director will alleviate the problem any time soon. I sincerely hope the new guy addresses this major management problem as a matter of urgency. Otherwise the company will likely continue to struggle with sector credibility.

IMO, you can forget about Steel Blue and the swimming pool prospects for a while. I don't expect any updates in that space for at least 6-12 months. That's how I read the last updates on those issues. Who knows, I could be completely wrong but I doubt it. It seems fairly clear to me that the risk appetite for the large majority of businesses in Australia (& the world for that matter) is very low based upon the COVID pandemic and challenging economic conditions. Whilst I'm at it, I also found the company's spruiking of Steel Blue and the Pool mob at the recent W.A media event as disingenuous to be frank. Medium or large scale sales to these mobs seems to be a way off IMO.

As I have said many times before, is there not any other entity (from the alleged 100 currently testing our graphene) that can provide an update on their testing? Yeah yeah, that's right, commercial in confidence... blah blah blah.

There is not a shadow of a doubt in my mind that a continuing lack of relevant updates from the company will lead the SP lower and lower. And the merry-go-round continues.

I can tell you one thing ladies and gents, management better pull their fingers out soon (& I mean soon) with some sales results or testing updates or they will struggle to have anyone take up the options before August 2021 and we all know what that will mean. The proof will be in the pudding. Here's hoping.

All in my humble opinion. DYOR

Mr B.