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Rossi70

4,139 Posts.

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16/05/22

17:12

Post #: 61437375
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Originally posted by potchip: ↑

You are one to talk about risk. For someone who's choice investment consists of:

A company that pivots from graphite mine developer to a processing technology company, using outside expertise that's not even locked down (poached by a competitor, patent dispute), in a field that's still 100% dominated by the Chinese. Funny enough, the model that EGR tried to copy in the pivot (MNS with a 2 year head start) is still going nowhere. Dozens of 'streams' announced with none followed up and no evidence of works in the balance sheet.

A graphite deposit that's not viable stand alone (hence the pivot) with 5 year old BFS that's worthless now meaning only funding options are equity or spinoff.

A proposed post processing plant (always world first using technology from a third party that's not commercially proven yet) with an IRR of some 51% (what's the confidence interval of costing cases and impact on the return? With current inflation in Australia how would that eat into to cost in 2-3 years time IF this eventually goes ahead?) - with no costing of feedstock other than an agreement with an European graphite supplier that sign MOUs with a bunch of other ASX listed graphite post processing wannabes, their business cards sure get passed around a lot in the same circles, I wonder who's paying for these 'agreement's signature? Even assuming the technology actually works, what's there to stop the Chinese from using the same? The patent is disputed on the basis of non-proprietary methods, ie not novel. Surely if this has a whiff of chance to work, the dominate player in the space would've already tested it extensively? Is it the old 'Chinese only copy but never invent anything new' prejudices at work? If only all it takes to dominate niche manufacturing sector is random tech and drawings.

In comparison WKT is just too simple:

Fully debt funded. Niche target market with no competition. Positive return project even if graphite price drops. Simple 4 stage grinding, high grade resource. With room for expansion when required.

As Mike said, when he looked at the unique deposit, it's a 'no brainer'.

No need to pivot to a new field with no proven track record of success and kick the ball down the road.

I don't mind market meltdowns at this stage at all, let the fittest survive.

Expand

Hi Potchip,

Apparently, they started first as a Nickel explore, then went onto Graphite and know, pivot to recycling battery's.

If they stayed with the original plan, they would be know paying dividend's from their Nickel project.

If you asked me, that company as lost it way.

IMHO.

Regard's

Rossi70

WKT Price at posting: 22.5¢ Sentiment: Buy Disclosure: Held
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