I don't have such an issue with $8m valuation. It didn't feel not totally outrageous to me at the time with what I understand of the quality of the graphite. However what was totally outrageous is that only 40% of the 40 mill vendor shares, being 16 mill shares were subject to escrow. I'm sure most selling has been vendor shares. 50% should have been locked up for 12 months and 50% for 24 months IMO.
Don't get me started on the lack of news since listing or the total lack of a coordinated follow on buying by the broker. If the vendors want out then buyers should be found to cross those shares and get rid of the overhang. Mind you who is going to rush in to buy even at 10c given the very unimpressive debut and seemingly lack of leadership from management.
LGR Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
