Noil1
3 years ago
First Graphene (ASX:FGR) reflects on December quarter (20. January 2021)
Overview:
*First Graphene (FGR) has rounded out the December quarter with a review of its leadership changes, financial position and latest activities
*The company spent the Christmas season commercialising its graphene powder range β an additive which can enhance a product's fire retardancy, strength, flexibility and endurance
*It also looked into ways to improve energy storage devices like solar panels
*The December quarter also bought leadership changes β founding director Craig McGuckin tendered his resignation, while Michael Bell was appointed as First Graphene's CEO
*In terms of financials, FGR burnt through over $1.1 million during FY21's second quarter and ended 2020 with roughly $4 million in the bank
*Based on current spending levels, it's enough cash to sustain operations for three full quarters
*Following the quarterly report, First Graphene shares jumped 1.72 per cent to trade at 29.5 cents
Read all at: https://themarketherald.com.au/first-graphene-asxfgr-reflects-on-december-quarter-2021-01-20/