Just being realistic, this in no way is worth 44m with 2m cash on hand. Its being driven up by a couple of brokers - there was a tight register so it has been very easy to play with, priming retail/ drawing in traders imo. So read between the lines, if the mc is unjustified especially given the small amount of cash they have - there is usually a CR coming.
They have a smart team, literally hands dirty metallurgists working their own studies which is why i like them (and how they've been so frugal), but they simply require more cash to fund the dfs and rightly so need a higher mc to raise. That's how i see it, so i have made the most of the opportunity and sold a fair amount today and yesterday which i believe were unjustified prices. (I could be wrong, but i won't be complaining if it drops lower, or they raise capital) and i can just simply be amazed if it reaches the teens in which case i will refrain from commenting
Vanadium prices are surging mind you, and may spark another freak show like in 2018. So anything could happen, but if retail new comers are entering at 9c rather than a fair value of 6-7c well someone needs to say something or hope they acknowledge the risk. let the brokers play with their money, not retails. Just my opinion.
The Company advises that in light of the placement undertaken, that the convertible note will unlikely be drawn down and if undrawn at 26th of August 2021, it will automatically lapse as per the terms of the agreement.
VR8 Price at posting:
8.5¢ Sentiment: None Disclosure: Held
