NGC Management so poor and incompetent...I'll tell you why
Great article from mining.com featuring Syrah…the article should be about Northern if our management group were not so incredibly incompetent. Let me explain what I mean.
Syrah Resources is an Australian owned graphite company operating the Balama mine in Mozambique, yes Mozambique. Bookmark that. Their deposit is large but poor…mainly consisting of medium, small flake, and fines…very uneconomical at current graphite prices as they were forced suspended operations a while ago and have just been stockpiling product since then. Remember, poor quality graphite, smaller the flake, I believe there is a correlation to combustion, ability to absorb heat at very high temperatures over the longer term etc…i.e. battery fires…don’t quote me on that but I do believe that is the case. So point being, it’s a very large deposit, but very poor in terms of financials, economics and overall quality of graphite etc.
Mozambique is not North America. It is Africa. It is also China because in terms of battery metals, China owns Africa. So Mozambique does not and will not ever qualify for Biden’s IRA $7500 rebate, like ever.
Syrah already received several hundred million in loans I believe from the US government from the gov’t’s first round of funding…in this article (link below), Syrah has communicated to the market the following:
“Syrah has applied to the US Department of Energy (DOE) for an additional loan of $350 million under DOE’s Advanced Technology Vehicles Manufacturing loan program to support funding of the Vidalia expansion project, and DOE is progressing due diligence.”
I’ve got things to do today so lets recap quickly,
Syrah Resources in non IRA. Syrah is in Africa.
Syrah’s end graphite product is low end, low quality, medium, small, fines etc…
lowest of low.
Mozambique is closer to China than to the US both geographically and politically speaking.
Mozambique employment practises? Environmental controls, footprint?
Syrah has already received millions in funding from the US government and is now applying for an additional 350 million.
Syrah is communicating all this through a well written article within a highly respected and well followed media outlet.
WHAT IS WRONG WITH THIS PICTURE?
How is it that with all of the above, SYRAH’s management team have been able to effectively communicate with the US government and convince them to fund their operations (hundred and hundreds of millions of dollars) in the US even though their graphite isn't even IR applicable? Unbelievable. Unbelievably embarrassing for our useless management group.
The assets we have in North America, the proximity and political trust we share north and south of the border...and our CEO has been unable to even procure a single dollar in funding from the US after our application has been in for almost a year is exactly what I mean when I describe his performance as incompetent.
How about we fire our entire team of over compensated executives and hire Syrah’s team…?? Who’s in for that, all raise your hands and call the company and demand the board fire our CEO.
Where is an update Hugues re our US and Canadian applications? Where are you Hugues? Do you see Hugues that it is possible to effectively communication with foreign governments re funding…Northern is the most obvious choice, the lowest possible hanging fruit for the US government to move on and fund, but no…we sit here with nothing…and zero updates from the company. Shareholders are scraping their heads after reading that Syrah article…but you continue to get paid, bonus and stock options…
All we as shareholders hear are excuses from this failed group, while other management teams, like Syrah, just deliver and get it done. If the Syrah group had our assets, wow, wouldn't that be something. Shareholders might actually see some performance for once.
It can’t be the macro re demand and politics, because it’s the best now it’s ever been for the graphite industry….it can’t be because the money isn’t there from govt’s because companies like Syrah are getting funded, and asking for more, and a lot more!….so what could it be Hugues? Could it possibly be you? Could it be that you are incapable of effectively speaking to government and selling them on the only hotdog left in the hotdog stand? Why is Northern watching other less quality boats leave the harbour while we continue to sit on the dry dock looking pathetic and helpless? Where is our messaging Hugues? The same place you’re hiding…whereabouts unknown.
What a total disaster in execution and operational messaging from this failed CEO.
here is the link to the Syrah article. What market messaging for Northern should look like.
...and to the morons on this board, I don't respond to your childish commentary. I've ignored most of you. You post like a child and you sound dumd and uneducated so please drink your koolaid and continue to pump this failed group, I don't care. Reall shareholders want to see execution and competence.
Enough is enough. Hughes needs to get fired.
https://www.mining.com/syrah-starts-active-anode-material-production-in-louisiana/