A Pathetic 800K LDI Drill Program Ain't "Proving-up" Squat!"The grant for up to C$400,000 will pay 50 percent of eligible expenses for geo-metallurgical and geo-environmental drilling to be carried out this year on the Company's Lac des Iles mining lease."
As I said, automakers and their respective battery cells manufacturing company partners will likely wait to pick up any unencumbered remaining NGC assets, as resulting from any CCAA proceeding.
The Lac des Illes historical graphite reserve is likely to be depleted at some point this year and the representatives of this company will no longer be able to suggest NGC is the only North American graphite miner.
Even in the best case scenario, 8 more years worth of graphite reserves at LDI would cost more to mine and sell than NGC could bank in revenues doing so; ergo, NGC would be, in the best case scenario, operating at an increasing loss for another 8 years .