This is a simple graph illustrating the long term trend for the...

This is a simple graph illustrating the long term trend for the stock (since June).
Broadly speaking you could change the title from "VRC Trend" to KBL or MNA or most any graphite explorer right now.
VRC management haven't done anything wrong, or different, since day one.
They have progressed the project and met milestones on, or ahead of, aspirational targets they set themselves.

The problem here is "the story" - graphite. The graphite story had its first REAL kicker way back in mid-2014 when Kibaran & Triton took off chasing Syrah.

The story ran out of puff mid-2016 and that is all that has really happened here.
market veterans would have seen this pattern many times before - iron ore, uranium, nickel stocks. A case in point is Paladin 13 years ago - went from 2c to $1.90 to $8.00 in 4 years before it all unwound from 2006 onwards - despite turning into a producer. Where it sits today is NOT where any of its ardent fans ever envisaged it would be but you see, in 2003, uranium was flavour of the month and remained so into early 2006 before Mr Market fell out of love.

Even the graphite stocks that eventually emerge has producers might still fall well short of investor expectations. And lets be honest - none of us here really know whether fair value for VRC was ever 13c (7 months ago) or whether it is fairly valued now (pending a cash injection).

Its all about sentiment. And Mr Market's sentiment to graphite has turned negative.

Its a long haul from here for VRC, KNL, MNS et al - certainly in so far as share price is concerned and irrespective of whether milestones keep getting met.

Their are no tailwinds for the stock or the sector for the forseeable future, only the prospect of a prolonged drift through the doldrums until the industry throws up the next catalyst for a re-rate - if that ever happens. In the absence of such, Mr Market is telling the sector that it understands the graphite story very well - has done for almost 3 years now - and the honeymoon is over. Mr market will come back to the sector when it has been able to clearly identify who the emerging winners are.

We can only hope for the sake of holders that VRC is one of them because I don't expect to see much joy in the immediate term (i.e. 2017)

Just my opinion. Not meant to be a down ramp but just putting a view point out there for people to add to the mix.

Coop