RE:Comparing Energizer with companies on the African mainlandWhat's interesting is that their share structure is as bad as ours (for the time being), but they haven't spent the money yet on proven and probable reserves. So their share structure will likely not improve, yet their share price recently took off from ~14 cents USD to ~ 65 cents USD. They apparently have offtake agreements signed with Chinese customers and are in advanced discussions with US companies (https://magnis.com.au/article.php?id=137). As of May 16, they have an agreement with a company who will supply power to their site (https://magnis.com.au/asxnews/announcements/).
So is this another case of BS Chinese offtake agreements, or is this something real? If they have an agreement with a power supply company (and they didn't report any contingencies), then I have to assume they are a near term producer which is why their share price took off.
I hadn't heard of Magnis before. Did you get the name from ENZR management?
ENZR managmenet indicates that they aren't counting on China; they are pursuing agreements elsewhere. So that is still positive for us if we manage to make an agreement. The other is that, as bad as our share structure is, we can still expect to do better than 50 cents USD with good promotion; much better given our superior resource (and less violent locale).