The red tape and bureaucracy is killing this project.
How low can the stock price go?
They have $110 million in the bank, and a market cap of $140 million.
They haven't even started building a demonstration plant yet.
The AGM presentation does not mention CAPEX, it mentions OPEX and the Pay Back period, but no CAPEX, not even an estimated one based on today's prices, so how can they state a Pay Back period?
Why have they neglected to put a CAPEX estimate into the AGM presentation, what are they afraid of?
And there is a plethora of graphite projects in the USA just waiting for the green light, and they don't have to build demonstration plants and prove to the world that their process works.
The RNU share price has almost halved again just in this quarter, and they've previously raised at 27 cents a year or two back.
A lot of public servants and politicians and (so called, false) environmental groups have made a lot of money having these documents sit in their in-tray for years, while they again and again retire to the conference and committee room for more of the ** fest, and more coffee and croissants.
If you deduct the money in the bank, then the market is only valuing this project currently at $30 million, which is a clear indication they don't believe it will reach fruition.
We need a change of government, and we need to sack a few hundred public servants, who are simply brain dead and obviously members of the Greens, as well as being leeches on the public purse.
Gw
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