Great Lakes Graphite Inc GLKIF

RE:Syrah plant rejected

[Floridas2000]

ogieboogeyman wrote:
https://www.afr.com/business/mining/graphite-miner-syrah-hits-speed-bump-over-louisiana-battery-plant-20180110-h0g1h3

https://www.fox8live.com/story/37228955/tangipahoa-commission-rejects-graphite-battery-plant

BOO

Syrah bit off more than they can chew.  It's the most shorted stock in the ASX for a long time which says something.

According to their PEA they need to sell x amount of graphite to be operational and they will not be hitting that which means more PP.  They can't make enough graphite right now to point that they cannot keep a commitment to their client.  Also where they were going to make money is through processing purified graphite in Louisiana and now they have to find a new spot and re-design their warehouse and get it ready for production which will not be this year.

GLK is moving forward because other graphite JVs are dropping back.  It's hard to get things done on a big scale with graphite.  Smaller and more controlled is the way to go.  I saw SJL has a mill.  Then I saw some photos of their site and I don't think that's commercial ready.  Showing how far ahead GLK is right now.