asx response 5th nov

Recently I wrote a post on VMG, thought maybe a turnaround story.....how very wrong.

Re ASX responce , long winded excuses, unfortunately VMG does not have a grip of its contracts, blow outs, stuff ups and the list goes on and on.

In the space of 2 months they cash burnt approx $4 to $5m, now only has $18m in bank....
Employs over 700 workers, if it lost more contracts or cannot win new ones, you would think more retrenchments....

This will further burn more cash! VMG I think has a few months on life support to go!.....If some of the disputes blow out even further and drag into the courts....diagnosis terrible....