Reading up on your prior responses about this company, what would it take for you to be more comfortable with this company?
It seems to have a lot of government support as well - but so did XBC and I do hope it is not following the same path...
Since our answer in mid September, the only negative news has been a rollover of the lithium sector in general. Many stocks have been hit hard. ETL has gone from $5.50 on Sept 12 to $2.92 on Friday. It is still up 50% YTD, however. So, valuation has changed dramatically, but so has the market backdrop. Since mid September the company has raised $23M, held an investor day, completed some initial field pilot plant tests and appointed new members to its advisory committee. We are more interested at the lower price, but the risks haven't really changed. We would like to see more (larger) tests, perhaps a partnership or other confirmation that it is moving forward. We would prefer cash flow, but we understand how small caps work and often investors need to buy before cash flow. But we would, even at the reduced price, consider it too risky for general investors.