These guys are an incompetent bunch of wannabe explorers without a skerric of geologic, let alone, deal making experience or knowledge, imo.
They rely on the snake oil saleman's art of nearolgy to try to talk up a dubious graphite prospect, relying instead on their sprouting of a competitor's results for justification!
A drilling programme was to have commenced at the end of April this year (21/4//17 announcement) with no indication its about to happen soon - or if at all. Why bother when the directors can use the cash to check out that new hip eatery down the road? Last quarterly for 9 months: Exploration costs: $263k, Staff and admin costs: $810k. Pretty much says it all, really. With over $6M in the bank, what are they waiting for, a new menu?
Looking for an exit, but will probably just take the tax hit.
SRK Price at posting:
4.7¢ Sentiment: Sell Disclosure: Held
