You are right about 1 thing in your post, COVID19 has not been around for 2 years. This has not been the sole cause of delays here. What you need to understand is that VRC have had issues in actually trying to get a note approved for listing, this took the best part of 18 months, could even be more. They stuck with Tanzania for the note and there were delays after delays with that before the finally cut their losses with that and went with the next option to go via Mauritius, that then took a few months more. Once they finally had this important piece of the puzzle it was off to roadshows. All seemed like it was full steam ahead.. then came COVID19 to knock it on the head and slow it down again. What SH need to understand is that it is not all about COVID19, it has been a collective, despite our best efforts, there have been plenty of delays ALL out of management control and in most recent cases, at the worst possible time. Some posters are also suggesting management should be giving weeks’ notice that there are delays in regards to this funding, how could they do that when they could get a call any day to say that an investor has signed on the dotted line. How are management supposed to foresee this? They do not have a crystal ball. I am reading plenty of short sighted and unreasonable posts… the facts are there for those who are reasonable minded if they want. Or one can sit there and come up with silly comments and take away the integrity and legitimacy away from their name on this forum. The company does their best to provide time lines, plenty of unforeseen events as mentioned above have meant that yes, they have not been achieved, not sure what else the company can do about it. They would obviously have been given advise that things should take X amount of time, and this is what they convey. Maybe to appease some posters on here they should be tacking on the extra 6- 12 months for relevant milestones and then over achieve, under promise and over deliver? But then people would be carrying on that things shouldn't take that long if the company gives such a long timeline. Bottom line is they cannot win with some people.
All I know is that this is a world class deposit and I believe that I will be rewarded in the long run, sure I never thought it would take this long but I understand the reasons why it has. It has certainly given me a chance to pick up cheaper stock along the way and once they do come out with news on funding it will rocket up, especially in this current market. Plenty of low MC companies making insignificant announcements are rocketing up, imagine our 10 mil MC announcing, 20,30,40 mil funding raised.. will be very well received indeed. Long term I still cannot pick a better play, but that is because I am understanding the full economics of this mine and what it will mean for future renewables demand I also appreciate that things take time and that some things are out of our control.
VRC Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
