Standard Graphite Cancels PP Ouch, based on 'prevailing market conditions'...meaning they probably had trouble selling units at
.85 when they were trading in the
.50 range. It is nice to know that a company like Focus is well funded to get to the stage at least up until the mine construction where the serious amounts of capital are required to go forward. It is also nice to know that the market was clearly supporting FMs when they did the last PP for $10 Million and 20 Million. Not sure if Standard will be in trouble, as the NR said they will be ok for funds based on the last 6 million units sold at
.25 for proceeds of $1.5 million....it doesn't sound like this will last very long for a company with so many properties on the go.
It will be interesting to see if this is the start of a real trend, where the very junior players fall away to the top two or three new entrants, FMS, FDR, and NGC seem to be the future.
https://ca.finance.yahoo.com/news/standard-graphite-cancels-brokered-private-223000200.html