Does NGC Actually Have $400,000 For A Drilling Program The Quebec government funded $400,000.00, it's half, of what would be an at least $800,000.00 drilling program, in order to try to necessarily have prove up what the company's preliminary mineralization estimate claims could be an additional 8 years worth of graphite contained within the grounds at Lac des Illes.
Should this be an accurate assesment of where things stand, NGC needs to raise not only $400,000.00 worth of capital toot sweet.
Also keep in mind the very fact being that NGC doesn't have the capital with which to pay the interest payment owed, in arrears, on monies advanced by "Sprott" and any other NGC "creditors".
The creditors, mainly "Sprott" want their interest payments owed by NGC and have obviously been temporarily willing to hold off on forcing NGC into CCAA proceedings if need be.
It's at least conceivable that "Sprott" representatives would consider allowing NGC representatives the time needed to raise the capital required in order to make such interest payments owed in arrears to "Sprott" primarily and others.
We understand that only yesterday, Focus Graphite announced it is undertaking a non-brokered private placement equity offering of up to $300,000.00 worth of FMS.V shares priced at $0.075, with attatched warrants exercisable at $0.10 for a period of 24 months from the date of the closing of the non-brokered private placement equity offering.
I was just pondering whether that recent just shy of $18,000.00 worth of NGC.V shares purchased at both $0.07 and $0.08 last week by Guillaume Jacq, NGC'S CFO, could have been an attempt to participate at more or less the same share price as any perhaps to be announced NGC non-brokered private placement equity financing?
Similar to Focus Graphite, Northern Graphite representatives may very well be pricing any to be undertaken non-brokerd private placement equity financing at $0.075, right were Guillaume Jacq's dollar cost average per NGC.V shares recently purchased would be.
Just a couple of thoughts here.
What say you?