african potash opportunity

i am waiting on a phone call to learn exactly what is happening with VRE

but it looks like VRE has a clean skin with $4.5m in cash (or net assets)

a REINSTATEMENT DISCLOSURE was made on 8 June 2011 showing the new balance sheet

i am still unclear as to whether VRE are receiving income from the Carnilya Hill Joint Venture with Mincor Resources

1,051,953,670 shares & options (1 cent) on issue

market cap (after substracting options cash) at 2 cents is $19.3m

enterprise value at 2 cents after substracting total cash is $15m

looks expensive for now but shareholders can only wait & see regarding the potash acquisition