Sounds like you were in the manufacturing industry sector which is vastly different from resources exploration and development and new process R & D which is where EGR is at. In these sectors the variables are much greater particularly when dependent on approvals, dealing with bureaucracy, environmental constraints, politics, commodity price fluctuations and social licence matters.
Just look at some examples and there are plenty more. Of recent times New Hope Colliery took about 12 years to get the New Ackland open cut extension going, and they have been mining coal for generations. Australian Pacific Coal took about 15 years to get a mine in the Upper Hunter near Drayton restarted. Chevron took over 12 years to get a gas & LNG project based on Barrow Island going. Some in the rear earths business have taken closer to two decades. The early days of Mount Isa Mines and BHP were difficult.
Major successful companies like Woodside and Oil Search took about 30 years to get their first projects up and running. QGC took over a decade to get the coal seam gas project approved and funded - ended up selling out for $billions.
The resources sector has more risk, frustrations and sometimes a lot more rewards when projects work out. EGR potentially could be a hybrid because as well as a highgrade resource in a politicall dubious area of the world, it is working towards setting up and pioneering in downstream processing and recycling which looks like it could have the benefit of modularity.
Over several decades at this end of the market I have very rarelyseen any good come of shareholder impatience in agitating to overturn the entrepreneurial team that created the opportunities in the first place, particularly if measured progress is being made. But if the agitation succeeds, they generally cause much greater damage and often company failures.
Maybe this sector is not for you.
EGR Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
