RE:RE:Oh goodie...lets shut down production Q4, prefer winter...youknowwhat,
It's "fishy" alright.
What else do you expect from Hugues Jacquemin, Greggory Bowes Cam Birge et al.
Now, we find out Northern Graphite Corporation representatives are relying on "third parties" to supply it's graphite purchasing customers what they are owed.
Is that because the previously mined and processed inventory has been sold forward and the company's Lac des Illes historical graphite reserve is the closest it's ever been to actually being entirely depleted?
You do remember that most specific lie told by Hugues Jacquemin et al., i.e. the quite intentional and in my opinion investors defrauding omitted disclosure which took place when the previous deal to purchase the LDI asset from Imerys SA was announced and for years thereafter, until Kristy Liddycoat let it slip out during that interview.
The following was stated within today's company press release.
"Northern’s mining division is currently running operational scenarios to open a new pit after a successful 2023 drilling campaign and a new resource estimate showed potential to significantly extend the mine life of LDI. The Company is also planning a second drilling program with the goal of further expanding resources to increase production".
"Operational scenarios" you say?
They haven't undertaken the necessary drilling program in an effort to necessarily "prove up" what had been a mere preliminary resource estimate and now they are yammering disingenuously on about a second drilling program, "with the goal of further expanding resources to increase production".
It's utter bullpucky I tell you.
This company management hasn't even raise NGC's portion (that is at least $400,000.00 contribution) of an at least $800,000.00 drilling program.
Graphano Energy Ltd hasn't skipped a beat and is relatively flush with the cash needed going forward.
This press release serves as a distraction and conveys the excuses for NGC management to seek to massively and materially dilute NGC.V "minority" equities investors out of immensely more of our respective remaining NGC.V equity investment value.
The company hasn't the capital needed to pursue anything suggested and owes it's main creditor, "Sprott", interest payments owed on materially impacting previously borrowed capital.
What's worse, apparently the company does not have enough of a specified grade of processed graphite material with which to supply existing customers.
Perhaps they are likely shutting the processing facility down because "Sprott" may have found a customer for that LDI processing facility asset and because said facility purchasing customer requires the LDI processing facility to be made to accomodate the processing of such a company's very own to be mined graphite material?
Hugues Jacquemin, Greggory Bowes , Cam Birge et al outright lied to then existing and would be NGC.V equities investors.
What would have anybody in their right mind ever believing what this pack of lying Northern Graphite Corporation officers and directors are yammering on about now?