@bluebottle18I honestly don't know enough about graphite to...

@bluebottle18

I honestly don't know enough about graphite to comment on project fundamentals, but what is clear is that both companies are in very different positions.

GPX funding: it receives US$80 million to build the mine (a mixture of secured loans and an equity investment) and all they have to do to unlock this funding is complete a BFS and get some resolution on the question of free carried interest. A few points:

• The Tanzania issue is largely resolved.
• The Company was already completing a DFS and the BFS is largely build on the DFS with the BFS due in October - I'm sure the quarterly will provide an update.
• GPX achieved this without ramping the share price with worthless BOA announcements (See WKT +60% share increase with three successive BOA announcements) and a global equity provider (Castlelake) did their DD on GPX and saw fit to fund them with some very reasonable and easily achievable conditions - hell they even lent them the cash to get it done.
• A global equity firm did their DD on GPX product, market, potential sales partners and management and decided they were worth funding.
• This is what a credible pathway to funding looks like.
  

WKT Funding:

• Raised some money to clear some forest

• Released a sudden announcement about "financing being progressed"
• ..........
• ......

I'm new to this space, but it seems GPX has achieved something very unique in the African graphite market and the WKT people seem extremely salty about it.