Oh dear, another company with just $113,000 in the bank setting...

Oh dear, another company with just $113,000 in the bank setting up shop in Balama looking for graphite/vanadium - have they done a cap raise recently - hope so.  Is there room for another mega pit, that is the question.

"the presence of high grades of associated vanadium (as a by-product), and lower labour and other OPEX costs means that Mozambique graphite mines can reasonably be expected to be more economical and profitable than graphite mines in the rest of the world."

hmm, SYR can't rely on Port Pemba for handling it's mega tonnes.  Nampula has been mentioned as an alternative, of course they will be fighting for access along with a host of other industries.  

Low cost - yes, electricity is lower cost in MOZ than other places, but RELIABILITY, well that's another thing.  Just ask Kenmare Resources plc - they needed to install a generator - from their report in March this year - "However, production has been disrupted by on-going problems with the Mozambique electricity supply. The state electrical utility, Electricidade de Moçambique has experienced problems in delivering stable transmission of power, and electricity supply to the group's mine has been volatile as a result. The group said it was working proactively with EdM to resolve the problems"  

OGL won't have those problems

Labour cost - yes, they pay their local people peanuts but then the majority of the locals won't get the "senior" jobs with the technical know how - those will be given to expats who command high salaries/living away from home benefits, etc.