What is relevant is the demand in 2019 / 20, not today. VRC hasn't even done its DFS and you are sticking a nail in its coffin? Getting a BOA, albeit small, pre-DFS is absolutely amazing. Its' biggest rival up the road, which has BFS etc, and is capped north of $250m has nothing.
Look at the time lines in VRC's presentation and for goodness sake go and read Professor Clayton's theory on disruption to get your head around the concept. Enough of this numptiness ... the fall out in g-stocks is a sector issue, not stock specific. It will be rectified by the cycle turning or VRC securing a niche of some sort, like GPX - expandable graphite into China. In the interim, the management are executing the business plan as stated and ticking boxes.
VRC short term achievement summary, page-35
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