RE:Some thoughtsRiverrock said: "For Energizer, one should consider the fact that a large portion of her earlier development funds were expended on the development of Battery Grade Vanadium which suffered a lost of interest that should return over time. The vanadium work resulted in Energizer having limited funds for its graphite mine development which could be the reason for the proposed lower annual concentrate production of 53,017 tonne of graphite."
Prior expenses for vanadium is a good point in regard to the paper; and a further good point that those expenses should not have to recur. However, I fail to see what that will have to do with the graphite production. They have been going to market for funds on a regular basis, and I believe received the funding requested in all occassions save one (if memroy serves, that was around the time of the Sagar property debacle). Funding should never have been an issue. That said, management does insist (or at least had insisted) that their numbers are conservative.