VRC/BKT, page-59

Peliatan,

" I hear from around the traps that the prospectus is going very well..." ?

You keep referring to this . I would imagine you have posted this at least ten times. So I will endeavour to clear it up once and for all.

On the 27th of March VRC announced that the prospectus for the $40 million Note Issue had been lodged with the CMSA.  Since that time there have been several meetings either postponed or cancelled for a variety of reasons.
The CMSA have since proved themselves to be less then helpful in approving this prospectus.  There have been excuses and delays that no one could have forseen.  We have recently been told by management the latest excuse given  was due to  
unrealistic terms. Trevor has made several trips overseas to address these concerns. It is my understanding he is there now .
It was also my understanding that we had investors who were ready to get involved and currently still are and I have no doubt had the go ahead been given by the CMSA then we would be in a  much different place to where we are today. But it didn't and this is where we currently find ourselves .
One could never have forseen that the CMSA would be so difficult to deal with, given that VRC will provide not only financial reward to the Govt but also employment to the Tanzanian people. Tanzania will definately be a beneficiary once VRC is up and running. It defies all logic why the CMSA has been making life difficult for VRC.  But there it is. Try and make sense of it if you can.
Hopefully you now have a better understanding as to why I said at the time that the prospectus was going well. It was not a throw away line.
Why would I make such a comment .   Think about it.
Of course we must take into consideration that we do live in times where things may not go according to plan and Africa appears to be one of those places where this is common place it seems.That is why management have put in place other financial arrangements if required.  If it doesn't happen as first planned it will not be because Trevor  did not give it his all .  He has been more then patient . Much more patient then I would have been.

But don't concern yourself Pel it will get sorted out. You'll be O.K with your investment. So don't stress. Hopefully you picked up a few more cheapies last week.