The company hasn't "ticked off" 100% of the required offtake nor have they demonstrated that they can even make any money producing 20ktpa.
Firstly, VRC only has 1,000 tonnes of binding offtake with a brand new company with zero history of producing a product and run by a person of dubious character out of an abandoned warehouse in Baltimore. Google them and you be the judge of the validity of this agreement.
Secondly, all other agreements are non binding MOU's. Until they are binding they are worth nothing. In other words Volt is 19,000 tonnes short of their 20,000 tonne target.
Thirdly, none of these agreements can become binding until VRC complete a PFS, receive approval to take bulk samples, complete the bulk samples, receive a mining license and agree on terms. None of these items have been completed and VRC does not have capital to complete them. Furthermore Tanzania has temporarily stopped the issue of new mining licenses.
And if you want to see the timeline to get funding with CNBM then check out GPX who are significantly more progressed but yet to receive one dollar from this Chinese company.
You are barking up the wrong tree trying to call me out on this stock. I have been correct the whole way down. But if you want to keep funding the salaries of management and buying straw hats then by all means go ahead.
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