I don't think AXE is in a bad spot necessarily. They have proved...

I don't think AXE is in a bad spot necessarily. They have proved a number of things with their graphite, mining lease approval underway, doing marketing and finding off take partners.

However, it isn't without it's negatives:
1. Archer isn't drilling the largest deposit possible. Whilst it makes sense for graphite, this is the opposite to what investors are normally accustomed to say in copper and gold. Also, while the other juniors are drilling away, and providing market updates on drill results it isn't unreasonable to see more interest in those projects.
2. Archer has ultra pure fine flake. Whilst this is compatible for batteries and fuel cells, it isn't for refractories and steel making which is where current demand lies. This limits our end uses (though we are alleviating this issue with the research program).
3. The consistently missed calendar. If AXE says they will release news by next week, it often means in 2-3 weeks (sometimes not at all). This is killer for sentiment and the wild swings we have had from 15 to 22 and back again is a testament to investors never knowing what they are going to get.

We do look better than what the market gives us credit for - we have proof of concept for just about the whole benefication chain, and on track for mining lease and mine designs. So yes we are ticking boxes towards production and thee recent hiring has definitely bolstered our management experience.

Do wonder where scoping study is though. That and an off take would cement us ahead of the pack.

At least things haven't "stalled".