We Are Into October And No Drilling Program Work AnnouncedGraphano Energy Ltd is likely about to announce the start of it's winter drilling programs to prove up it's reserve estimates at both the company's LAB and Standard properties.
Yes Graphano is about to be on the move; while Hugues Jacquemin et al sit there with their respective thumbs somewhere within their nasal orifices, trying to pick out a winner, lol!
Alas, it was likely all just a con on the part of Hugues Jacquemin et al.
Eight more years of extended Lac des Iles mine life they said.
They neglected to tell us they had no sufficient capital with which to pursue the requisite proving up of the merely suggested preliminary mineral estimate at LDI.
The also can't seem to raise any capital by way of equity issuance, due to not having any takers willing to participate in either a private placement equity financing initiative priced at current share price points or not being able to entice an predatory equity finance initiative underwriter willing to undertake an equity offering at share price points necessarily discounted to the current NGC.V share price.
Predatory equity offering underwriters (e.g. Eight Capital) require that a sizable discounted NGC.V share price, to that of the prevailing closing NGC.V share price on the day such an equity offering is announced of course, is locked in before agreeing to underwrite such a predatory equity financing initiative on behalf of NGC.
Conceivably, NGC may to sell that old processing facility at Lac des Illes and enter a leaseback agreement for the use of said processing facility, this just to raise enough monies with which to temporarily service the debt obligations owned to Sprott primarily, along with any debt obligations owned to any other company creditors.
I am sure "Sprott" would be able to bring along a specific purchaser of that LDI processing facility, a company willing to pay "Sprott" (with the purchasing company's issued shares provided for "Sprott") just part of what it is owed by Northern Graphite Corporation and a company that would be willing to lease a portion of the capacity of said processing facilty to NGC.