VRC's sp is certainly low! 1.0c is back where it was year ago! But up-ramping based on no positive news is unwarranted.
A sp of 1.0c doesn't make it a "good buy". It is still a high spec stock, and that will only change if the company can list its Bonds on one, or both, of disalloweds it is chasing! And then there needs to be investors willing to buy these Bonds!
Some investors are prepared to take on the risk and buy the stock, but there are still a huge number of sellers. Some short term investors may be looking for a quick 20% or so rise in the sp?
As far as the general public knows, there is still nothing that has been announced that de-risks the stock! There will always be up-rampers, but there is nothing out there to get excited about, yet. That may change if VRC is able to get its Bonds listed on the Mauritius SEM, which may be known in the next few weeks.
Over the last 2 years, that has been plenty of up-ramping of VRC, but to no avail, the sp has been in decline, and the US$40m funds have not evaluated. The next few weeks could be a game changer for the stock.
Let's hope that the Bonds do get listed, and ASAP!
VRC Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
