Hi Herc, I pretty much agree on the price forecast based on no...

Hi Herc,

I pretty much agree on the price forecast based on no additional dilution and they do actually produce a stockpile for sale. I have a fair degree of confidence that they will achieve these goals. As you and several others stated, $4 mil was unnecessary based on the cheap cost of mining, labour and services in Sri Lanka, and I feel that a staged raise over a 12 month period would have seen less dilution and eventual higher prices.

My original price forecast around 18 months ago was somewhere north of 50 cents based on a better market and the exuberance for graphite stocks. Over the past 6 months, I brought that figure down to around the 25 to 30 cent region and I feel that is perhaps on the high side now based on the narrow width of the veins and moreso the current market sentiment for miners. We need a lot more veins to get a decent stockpile, but I think that will happen anyway.
My target is 12 to 15 cents over the next 12 months and I am comfortable with that. It is still somewhere between 200 and 300% per return from current and one which most buyers now should be happy with.

If this goes to the moon as Nasa would like, then well done to those holding till then, but reality being what it is, I will take anything around the 15 cent range based on current market info.