RE:IN a recent NR, CEO Hugues stated...NO Equity raisesHere's the deal GripnRip.
My money is trapped here in a company which is being milked for all it's worth by Hugues Jacquemin and the other officers and directors over at Northern Graphite Corporation.
Ramping up graphite mining and processing during this quarter and going forward to full name plate capacity is not going to help the situation at Lac des Illes.
Ramping up production gets us more quickly closer to the end of life of Lac des Illes deposit.
At the moment, there does not exist any other actually "proven" and therefore actual reserve at the Lac des Illes mine and tomorrow you'd best be asking Hugues Jacquemin & Co exactly how long it is going to take after this supposedly coming spring/summer drill program to determine whether any additional proven and actual reserve of graphite exists at Lac des Illes.
What's more ask Hugues Jacquemin exactly what it's going to cost, in terms of shareholder dilution and capital expenditures going forward, in order to prove up the suggested additional graphite deposit at Lac des illes and then actually begin to mine it in a constrained fashion?