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Ann: VRC Identifies Site for Natural Graphite Production Facility, page-22

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Rykster

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14/03/24

13:20

Post #: 72883772
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Originally posted by mrwalker: ↑

Madgwick,
VRC has tested everyone's patience to the limit and then some and as Possum said yesterday, we are definitely looked upon as a basket case at present.
We are all thinking that around about now our bank account would be somewhat depleted but we would hope it's not at the levels of last year's disatrous timing of a cap raise. We've been diluted thinner than water over the years so what will we face this time? I find it hard to see how another CR at this time will be sucessful unless it's in the form of a loan of some sort. (Are you listening Asimwe?) Issuing millions upon millions (billions even?) of new shares and options at mere fractions of less than half a cent is not the answer now.
PC has managed the purse strings exceptionally well given what he was left with and without a doubt he is working incredibly hard. His mistake and only in the eyes of us shareholders, has been giving us two different dates that we will have finance for Bunyu but none of these came to pass resultng in SP heading further south at a steeper angle. Yesterday's anoouncement was good, I'm sure we all agree on that but VRC could announce that we've got new offtakes with every battery or EV manufacturer under the sun at this point but it doesn't matter as the product needed to supply these offtakes still lies underneath dirt hills in Tanzania with no sign of extraction. ZG is not the answer so long as Adolf Putin is still in the mix. That's the way the market sees it and is perfectly understandable given our history.
PC has spoken a number of times of some USD 100 - 150m of undiluted funding "in the pipeline" which would be great but at the moment this pipeline may as well be running along the bottom of the Mariana Trench. The earliest we may see a decision on that is another 5 months at best and if sucessful, how long after that would we see a cheque? That's anyone's guess.
We expect an anouncement on who the "big customer" is by the end of this month and who, only if they are satisfied with the 113 ton sample of graphite and the terms of sale will supposedly sign an offtake agreement thet will enable us to get funding to start contruction of a mine in Tanzania. I know the definition of enable but what will this entail and how much more time will be required? Time which we're rapidly running out of.
I still believe PC will ultimately be sucessful in developing VRC as a serious player in the worldwide manufacture and supply of BAM but at what cost to shareholders who have somehow managed to keep the faith for this long? Maybe we'll find out in another couple of weeks.

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Have I crossed over into some kind of parallel universe?

Suddenly, I'm seeing intelligent commentary from the likes of Mr Walker and (I can't believe I'm saying this) the Possum!

I just hope that the silencing of the drums is not a signal that the beast is about to be sacrificed...

VRC Price at posting: 0.6¢ Sentiment: None Disclosure: Held
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Ann: VRC Identifies Site for Natural Graphite Production Facility, page-22

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