Originally posted by Jamac
Evening All
Lets hope the
Capital Market Security Board of Tanzanian will not Cap the amount that Volt can raise and they can raise whole lot there.
But what if its Capped ? What it is not capped and they don't get the full amount? Would it not be poor management to sit back and wait and see or would it be good management to have your fingers in other funding to limit your exposure.
I am sure with the China trade tariffs
there would also be our American friends wanting there fingers in or have some pull with Volts graphite.
Enjoy your weekend
Jamac, I have no issue with seeking funding elsewhere if there is a Tanzanian cap placed on the raise. Personally I think it prudent from their perspective that they hedge.
What I am very unhappy about is this. Why wasn't this issue of seeking alternative already in place. They have had almost 12 months to do a pre-mortem of this raise due to the unforseen halt by the Tanz gvernment. And they are now just getting ready to jump on a plane?
Don't get me wrong here, I want this to happen and am invested in it happening. But the directors have dropped the ball on this and on the overpaying. I can forgive the actual overpayments. I am still struggling to forgive the lack of oversight - especially since they have relatively speaking, been waiting on a the Tanz gvernment to green light the system. They have had time to be going over all their processes and plans with a fine tooth comb.
They didn't and they have failed on these specific initiatives. If they were in the process of building a greenfield plant I could understand such an oversight because the plant would take priority... But besides chasing more buyers, getting a prospectus up (that still isn't approved), more exploratory drilling, and getting the locals rights sorted, what else have they been doing?
