The Sri Lanka factor, page-4

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29/06/22

08:44

Post #: 62262889
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Originally posted by BlackBeak ↑

Hasn't been much mention of the sovereign risk that is Sri Lanka.

The government has essentially locked everything down except for emergency services for the next 2 weeks. I'm assuming this means mining activities and the transport of graphite will also be on hold. I'd normally say there's a risk of the Government taking our mines, but they are mothballed anyway and we buy from the government owned mines already, so not as much of a risk.

But given cavitation isn't up and running yet, has FGR's supply chain been totally cut off?

The only saving grace which probably makes this a non-issue for the next few years is that we ordered a whole heap of graphite, and given lack of sales (and a large amount of unsold Graphene on hand going by the quarterly reports), we hopefully have enough to last us to the other side of this crisis.

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Our saving grace is we have vastly overestimated the success of FGR and our ability to expand and consume loads of Graphite in our Graphene production. The crisis to me is our negative 60% YOY return and the fact that announcements have all but dried up. Seems like it might be the last roll of the dice for Mike if he cant make a decent breakthrough here and get FGR up and respectable he will leave due to frustration or get pushed due to failure.

Many many years ago, i had immense hope for Graphene and First Graphene, over the years this has been stripped by broken promises which have turned into broken dreams, selling at a loss and buying a more favourable stock is now an option that i would of not considered a couple of years back but losers tend to stay losers and equity erosion here is the order of the day. We are all poor but happy owning nothing yet? Yah Graphene and FGR!

FGR Price at posting: 11.5¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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