We are in Q3 now.
At this point no one understands exactly what the long term impact will be from the new Tanzanian legislation. It is highly unlikely there will be any financing deals completed in that country this year. Even the GPX deal with CNBM looks shaky now and while it may settle you would expect the price to be renegotiated. GPX is now trading at 50% of VRC's market cap. Then you have the CXX deal that was terminated and that share price halved. The Russians pulled the plug on the Mantra uranium mine development. ORR has been smashed. WKT were lucky to complete their SPP but they have been sold down heavily. MNS, KNL and BKT are still suspended.
Volt management will continue to be upbeat but it doesn't take a rocket scientist to work out the landscape has changed.
Ann: Interim Working Capital Funding Completed, page-199
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