Hi swanny, I’ve enjoyed reading your posts on this forum so respectfully I’ll give you my take on some of the points you’ve raised.
I too am heavily invested in this stock and have been for a long time which has given me a fair bit of hindsight.
I remember that cap raise at 27c caught many here by surprise as the share price had been quite stable in the 30s and appeared to have been hastily organised. Hindsight tells me that David knew he couldn’t wrestle the Koreans or the Japanese off of cheap Chinese graphite and also would have been aware of the massive Chinese build out of synthetic graphite capacity. He subsequently went to the market on the promise that with this haul of cash he could start this build quickly without having to rush into any agreements. Well that was nearly 15 months ago and I doubt they’ve even renovated the front gate. Those sophs that bought the story would be feeling fleeced and I’d suggest most would have copped their losses long ago. He also said some of those funds would be allocated to feed design which I believe is slowly happening but he fails to give completion dates or even a percentage update. Basically David treats shareholders like mushrooms, “feed em shit and keep em in the dark”
I could go on and on but that’s enough for one night, just my take on things.
RNU Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
