waiting for permits to be granted, page-26

With JV with Grafex confirmed on 19/10,wondering when the 2 million shares issue to Grafex and when the $500k comes in from Cannacord.[5 mil shares placed at 10cents]

Thought this was to happen on completion of due diligence ie 19Th October. Such share issues will require a Notice 3 days after transaction yet..?

Further I'm pondering on Canacord's reaction to the 2 substantial holders selling out AFTER this "deal" was made?
Was Cannacord expecting that? or were they expecting like some here that a Graphite Connection would take the SP into over 10 cents,no worries?

Of course 5 million Cannacord shares will NOT be a 5% Substantial Holding subject to Change Notices on selling.
And it is usual practice for Institutional Placements to be sold on market asap for arbitrage profits.

I am very dubious of that post from a Big Holding African Mining Expert saying that a drilling programme can be run on $100,000. Oh a License may issue on the basis of $100K programme but an ASX listed Company doing even just exploring would be very dubious budgeting such an amount.
Results would be too vague from a mere one/two hole drill.

I reckon some are still dreaming of some visual/rock chip/trench "result" taking this away into orbit.
You may be misguided. The Geology of Graphite is much better understood now by the Retail Market/Speculator than it was a year or so ago.

At the very least some multiple drill results AND metalurgy work is required for any sustained price rises.
imho the race is now on for [a] JORC compliant measured Resource [b] Definitive in depth Metalurgy [processing method] and actual production by 2014.
Companies on this track are In the Market for the Graphite Speculation $$ and TON..?

Good Luck.
Employ Risk Money Management.

ps- johnnycrash it may surprise you to know that HC moderation has a bias AGAINST UP Ramping over Down.
Up Ramping as in posting supposedly "in the know"/insider info and/or opinion.
Up Ramping as in I have a massive holding in this and have balls of steel during this Temporary DownTrend etc etc blah blah blah.

anyhow I have an interest,research the Graphite "Scene" so am just posting my thoughts on how i see TON 'fits'.
It's very junior.
In the Qld sense bordering on a Joke![see fitzgerald inquiry]