Ann: Cooperation Agreement with CNBM, page-52

That's not what the announcement says. VRC is providing a one tonne sample to enable product trials to be conducted on its suitability to make expandable graphite.

If they had already tested the product Volt would have advised accordingly, particularly as this announcement is marketing oriented and VRC never ever misses an opportunity to market themselves.

Read up on the process GPX completed with a subsidiary of the same parent company. This is a very onerous process and I can guarantee it requires a much better understanding of the deposit than is currently documented by VRC.

There is a capital intensive process ahead for VRC before this will advance anywhere. I think this is just another marketing announcement full of conditions and vague statements and avoids the elephant in the room, cash.