RE:RE:RE:RE:The problem with this stock
and I am still a holder and supporter of this company, but..................
There is plenty that is good here. ie; the asset, the grade, business model and the costs. All good I understand that. The current price though i agree is unacceptable. Now we can try to blame the market, or say the market doesn't understand Graphene, but this is only part of the issue and this is a Graphite play anyway. We have basically not had any worthwhile material (price changing) news on Lac Knife in 2013. A bit of drilling and another locked cycle test is not enough to support the share price as we have seen i'm afraid. Pilot plant results likely very soon but will those be enough to get this moving?
We need some clarity on where we are and what the plan is, timelines appear to be slipping away here plain and simple, if they are not tell us why. Where are we with permitting and mine planning, do we need a BFS or not and how long is that going to take if we do, 6 months, a year? How long to build the mine? Is 2014 now 2017? So whilst there is a lot that is good here, operational progress imo is unacceptable. It doesn't have to be like this, look how quickly Mason got their PEA out. Qualifying transaction Oct 2012, PEA June 2013, 8 months and they are not too far behind us in terms of public press made (even if we are actually much further ahead in the background with customers etc).
The fundamentals still do appear to stack up just fine here, but i'm just starting to question the execution and focus. Now if we get amazing pilot plant results and some real clarity on direction in the public domain, i'm happy to come back here and say "BRAVO FMS". I was wrong. For me it is pretty simple today, no material or price changing news since the PEA on 31/10/2012, over 9 months of fluff and a halving of the stock price is the reality.
I will though continue to hold, as I am still a strong supporter of what this company wants to achieve. I always said i'd review end 2013, as i fully expect this company to provide increased shareholder value over 14 months development (Nov 2012 - Dec 2013) and the music has to stop somewhere. I expect genuine progress to be made over such a long time period and as an owner of the Corporation have to be critical if this does not appear to be happening.
GLTA.