Ann: Response to ASX 5B query, page-62

VRC does not require a mining license for the bulk sample and of course this sample is for testing only and simply a precursor to discussing a potential offtake. The implication is the sample is delivered by Volt at their cost and obviously the discussions may not result in a deal. A mining license will however be a condition to any offtake deal VRC may sign.

However, until the company completes a CR for working capital it remains at risk of going belly up. The fact it is taking so long to announce any sort of funding suggests TM/SH are struggling to find any interest. It's hardly surprising given the state of the sector and lack of progress.

I notice SH is also going on the board of another company which is odd timing given the very delicate state of affairs for VRC.