Not sure how this is positive. There is a large group of shareholders that invested in the last private placement at $0.10 and now they get undercut by a huge chunk of shares at $0.07.
The $0.10 holders that I know are waiting for any meaningful move to dump their shares. And now another 10 million shares gets added to the float at $0.07...! There will be a lot of overhang between this level and the low double digits.
Add to this the fact that graphite had its day in the sun results in this stock treading water for some time I am afraid.