Post by
1student on Jul 22, 2024 3:05pm
NGC Becomes The First To Fall Victim To Consolidation
That is correct. The entire graphite mining sector outside of China, and especially within Canada, is to be subjected to consolidation.
Companies holding graphite bearing lands assets and even the only graphite miner operating within North America are going to find the usual provisioners of predatory capital immensely difficult to cope with.
It's now expected that NGC representatives would have to raise desperately needed capital at immensely discounted per share price points.
If you thought CAD$0.09 OR A 50% discount to NGC's book value per share price was already decimating enough; think again.
Companies like Eight Capital and the others typically preying upon TSX-V listed equities issuers would offer their predatory capital provisioning services to companies like Northern Graphite Corporation.
We all know precisely how Eight Capital and others go about doing business with the officers and directors representing NGC.
It's likely to be quite nasty, as "Sprott" is not likely to place another cent into supporting NGC and would rather have NGC taken into CCAA proceedings.
This is what "The Missionaries On Assignment" ultimately intended to take place people.