Money Needed Soon

Winston Wolf wrote: "The fact is the mathematics demonstrates that there is 2 odd million in the bank atm according to bosswho's broker and the company have forecast expenditure of $1.648 million this quarter. At what point do you think given the current rate of expenditure (as you point out this is a light on qtr because of the wet season) should be a minimum cash balance before the company has to raise money in the interests of remaining a going concern ?"

I find it difficult to comprehend that posters on this thread would still deny that VRC will need funds sometime in the next 3-5 months, if not sooner.

The company spent$2.7mill in the last 3 months.
The company spent $2.6mill in the 3 months preceding that.
And $1.0mill in the Qtr before that.

$6.3m over 9 months at average $700,000 per month spend.

The ONLY revenue in last 3 months came from the exercise of Options.

They have ALREADY said they expect to burn through a further $1.64mill in NEXT 3 months (@ $546 per month)

Come 31st March 2017 - 40 working days from today - they will have $1.32mill left.

I just cannot agree with those here (no offense intended) that do not believe this company will need to raise money before 30th June 2017....if not much earlier.

I feel the graphite ship has sailed. The boom times are behind us for now and the stocks are in the doldrums for the forseeable future. No tail winds to help see this through to safer waters for now....

Yes - we will need graphite for the ion batteries. Battery-ready graphite, too. Not just raw product.
But what will the price be for the product?
And what will the demand be relative to the supply when EVs start to build momentum. How far into the future might that still be?
How many competitors - globally - is VRC competing with?

In many ways, these questions are completely irrelevant for the moment because the real issue for shareholders here on HC right now is the share price - and what potential short term catalyst is there on the horizon (besides "hope") that can reverse the share price trend deliver investor profits.

I honestly cannot see what development could possibly push this back to 7c over the course of 2017 - especially with the prospect of further dilution ahead.