CommentsHave been researching the graphite space and there is a number of things to like about ENZR. The approach of small-scale production seems right in light of market needs at the moment so that is very positive. Also lots of upside in the deposit in terms of grade, flake, size etc. And the management team seems solid - very credible presenters, strong geo and technical skills, etc. Lastly seems like a strong shareholder group (reputable institutions)...
However a couple of items are concerning: 1) do management own equity? Or are they motivated just by salaries? Without serious equity ownership how can they increase equity value? 2) Dilution - why did they raise $6.7million recently just to complete a FEED study and provide working capital? Why not raise less at these values and raise more with milestones achieved later? This ties in with point 1 - if you don't own it you don't care 3) Seems like the board has been around forever...maybe a bit stale? Who on the board is in charge of financing strategy? Promotion?
I recently purchased a small position and am I'm looking at maybe buying more if I can get more ccomfortable with the above. Any comments?