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12:36
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Originally posted by Greenenergy
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Burty fyi Novonix will have $4.7million in cash at June 30 2018 and wont need a capital raise. It looks like Novonix is moving to sell off the Mt Dromedary Graphite deposit judging from the quarterly report. Mt Dromedary is t he highest grade graphite deposit in Australia which has a lifespan of 25yrs+Estimates for Mt Dromedary's value is between $US150-250million. I wonder what that their Bank Balance will look like once this transaction is completed? An one off dividend would be nice for us long term shareholders from the proceeds of Mt Dromedary. I'd like to see that from the Senior Management and Board. An extraordinary company, run by extraordinary people. G "With the PUREgraphite joint venture initially sourcing feedstock from existing suppliers there is no requirement for the immediate development of the Mount Dromedary Graphite Projec t The company will complete the permitting for the project while exploring opportunities to leverage the asset. NOVONIX Limited (ASX: NVX) (“NOVONIX” or the “Company”) would like to provide further information with respect to its forecast cash position following the release of its Appendix 5B yesterday, 30 April 2018. Appendix 5B reporting is specifically for exploration businesses and as such does not incorporate sales income from our battery equipment and testing business. The Appendix 5B reporting is a legacy obligation dating back to when the company was purely an exploration business and until such time as NOVONIX is able to get the company reclassified, we are required to continue reporting as an explorer. it is forecast that at the end of FY2018 NVX and its PUREgraphite joint venture will have access to $4.7m in cash to progress its battery materials and testing businesses.
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This should be a new thread - just regarding Mt Dromedary, (Mt Gulaga), it is only a known graphite deposit at this stage, mining approval has not been granted and there are many red flags such as aboriginal cultural significance and environmental that may see mining not go ahead. Finding a buyer may not be so simple. Does anyone have any information on this?
(20min delay)