VRC’s sp at 1.8c is testing support levels. With a high cash burn rate, how long before another CR is required? If the sp continues to fall then it will reflect poorly on the company.
We continue to have posters being modified for making unsubstantiated comments, especially about making phone calls to Trevor.
As CEO, Trevor has his first and foremost allegiance to the company and is bound by ASX rules about what he can expose to the public in unofficial comments. He is highly paid and running a high spec company with a high cash burn rate. Unfortunately, in the past 18 months he has ben unable to find the US$40m funding to get the mining process started.
Ringing Trevor is going to achieve what? He is not going to disclose any secrets which might implicate him in “Insider Trading”. He is also hardly going to state, “Don’t buy any shares in this company!”, or, “You should sell out of this company because it is going to fail and go broke!”
As CEO he will always remain hopeful that the company is going to succeed, especially when being paid such a large salary. And the vast majority CEOs are much the same, they have well-rehearsed company responses to spout! These CEOs remain positive, hopeful and telling shareholders that the company is going to be successful, right up to the point when the company goes bankrupt and the CEO is nowhere to be found! (not saying that this is the case with Trevor)
Any Tom, Dick and Harry can post a comment in this forum, ramping VRC. They can state that they have rung Trevor and been told 100% that the company is going to get the funding in the few weeks and mining will begin! All a total fabrication, totally made up, but trying to get people to buy more shares and raise the sp for a quick sale and profit for the rampers. (not saying that this is occurring)
Posters who state that they rang Trevor and spoke to him, this is unverifiable and may or may not have happened.
Posters who state that Trevor has indicated or told them that the company is on track to rise the funding soon, again this is unverifiable, and may or may not be what he actually stated.
These types of unsubstantiated comments may contravene HC rules and may be removed.
So, under ASX and HC rules, not much can be stated in unsubstantiated, unverified posts about phone calls to Trevor. The poster’s motives may well be totally honourable, but that doesn’t matter, as there are protocols in place.
Besides the fact, that Trevor has been stating his belief for 18 months now, that funding will be secured and that VRC will become a successful mining company, nothing has eventuated! If his business plan is so compelling, why hasn’t anyone on the entire planet been willing to fund it?
Phoning Trevor may be a way for an individual investor to feel reassured about owning VRC shares, but posting the comments here should not make the forum members feel warm and fuzzy, as the comments are not verifiable and the motives of the poster may be scurrilous and include ramping?
Again, not saying that this has been happening. Not saying that Trevor is being disingenuous about the company. Just stating an alternative perspective and why unsubstantiated posts have been removed.
I remain hopeful that the company will become a successful miner sometime in the next 12 to 18 months, and I continue to hold VRC shares.
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