VRC- A Serbian Lithium Story, page-307

spacecake,

""Hi Possum, seeing as raising is going to be very hard next year why did the BoDs in their infinite wisdom only take less than half the available cash in the CR? ""

I believe the next 6 months could be a testing time for the market because of many reasons. I hope I am wrong. Generally markets do not like uncertainty . There is a fair bit of that going around at the moment, whether we like it or not . But I am happy that Volt have a nice cash reserve to see it through that period, should it get testy. I am expecting the second half of next year to be better for world markets. I would hope that inflation has been curtailed by that time and I would expect interest rate pressure to be more favourable then where it currently sits. The constant talk of recession in many countries only adds to the uncertainty at the moment, not to mention that Putin is constantly reminding everyone that he has nuclear weapons at his disposal.

Management would be believing that the next 6 months will see significant upside on multiple fronts . Because of the where the company is at, it was important that they raised the additional money. This was the biggest cap raising since I have been a shareholder in the company. We have seen them raise a couple of million dollars on numerous occasions .
They would now envisage that the next raising will be done at a much higher share price, so the opportunity to raise an additional ten million dollars at this current low price would not have been ideal. The Dilution effect certainly would have played a big part in that decision to scale back to only raising ten million..
I know Trevor would have wanted this recent cap raising to be done above the 3c mark believing that the 24M announcement might have given it some momentum, but sometimes the best laid planes come unstuck.
As I have already posted in the past, Trevor always knew that the Chairmans $800,000 was coming and therefore moneys were allowed to drop to levels where they normally would never have got to. Raising money is a fine balancing act at the best of times.
Once the market became aware that a placement was on the cards they basically dumped the stock. Which then resulted in a cap raise being done at a much lower price than was originally anticipated.

Cheers.