Focus Graphite Keeps Increasing It's Equity Offering AmountIt's not as large an increase to the current equity offering as the previous increase of the same equitry offering. Never the less, it would appear there is at least interest in Focus Graphite and it's Lac Knife graphite deposit.
I guess Hugues Jacquemin et al have not found an willing "predatory" type equity offering underwriter (e.g. Eight Capital) capable of raising urgently needed capital for NGC.
At least $400,000.00, which could represent NGC'S half of what would be at minimum an $800,000.00 drilling program and requisite assays data collection program needed to necessarily "prove up" what is merely a preliminary mineral estimate relating to a supposed new graphite find said to be occuring within the historically existing and presently nearest to depleted Lac des Illes graphite mining pit.
At this point, "Sprott" likely pulled the brakes on any unnecessary spend of any remaining available capital.
"Sprott" is likely just fine with any existing NGC capital to be expressly utilized to mine and process only the graphite which would be immediately sold forward in order to only pay monies owed to "Sprott".
Any other existing creditors are necessarily behind "Sprott" in order of importance; and should they also want to be paid what they are owed by NGC, they can pony up some entirely unsecured capital which can be employed to necessarily prove up that supposed new graphite find claimed to be existing within the historical LDI pit.
"Sprott" likely also wants that LDI graphite processing facility, in order to have it be owned by a strategically positioned party.
I have said it before; and I'll say it again.
It's most likely that nothing good for we NGCE "minority" equities investors comes NGC's way.