Four things the market has seen in 2017.
1) the Korean assets sold and the cash is getting chewed up.
2) Newly Appointed MD has checkered history with the failed (Ta) Egypt project.
3)The graphite project is low grade and in a very remote location and very little inferstructure. That will have very large capex and opex.
4) many other ASX Co's are more advanced into approval process and are struggling to attract funding.
My 2 cents
Ann: Exploration Target confirms high level of graphite endowment, page-14
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