Another graphite company bites the dust
The dust has settled following the US Presidential election. The gold price continues with the volatility not uncommon when a bull trend comes off its peak as the future direction is reassessed. Volatility everywhere will be the trademark of Trump, so don't get too settled in your expectations. There is not much more to say other than we should regain our composure and handle news flow as it happens.
While the All Ordinaries hit another new high, its performance belies what is really happening in the Australian economy. On the political front the press continues to criticise the Government for inaction and incompetence, so maybe the market is pricing in a one- term government.
The failure of Walkabout should be putting the wind up all of the other graphite hopefuls. It is time for shareholders in these companies to think long and hard about whether there is something overwhelmingly special about their companies, or whether they are just holding shares in another industrial mineral company that is doomed to failure. It would be a mistake to just swallow the rhetoric that company directors preach. There is nothing easy about graphite