Update: Energizer Resources Issues 4.9 Million Shares In A Non-Brokered Private Placement
- Energizer Resources raised $588,000 through a 4.9 million share non-brokered private placement at $0.12/share.
- I just discussed the strong possibility of Energizer issuing more stock prior to financing its Molo Project.
- This doesn't dramatically alter the "avoid" thesis - the stock continues to have numerous red flags.
- Energizer Resources appears to be the most undervalued graphite company with the most economic of the major graphite projects (Molo) ex-Syrah.
- The Molo Project raises several red flags including its remote location--largely inaccessible for part of the year--and extremely generous financial assumptions and blatant omissions in the PEA.
- Investors would be wise to look for opportunities in the graphite space elsewhere.
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ENZR vs. ETF Alternatives
Energizer Resources Inc. is a development stage company based in Toronto, Canada. It is focused on developing its flagship Molo flaked graphite deposit in Fotadrevo, Southern Madagascar into a potential world-class mine, capable of supplying the largest and most significant graphite markets... More
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