Ann: Bunyu Graphite Test Work and Offtake Partner Update, page-76

Possum 2,
You have made some good points.

The VRC board would have a target sp in mind for when they begin mining next year. MNS is around 60c without mining! My target price for VRC is 30c giving it a mc about $300m. One stockbroker has given VRC a target price of 37c. A 10x rise in the sp would be very nice. And of course it could go much higher, but everything has to fall into place and VRC would have to negotiate some much larger sales than at present.

With an AGM looming, it would only take one more good announcement for VRC to break through 3c! The progress of the uptake of the new shares is also of interest. Certainly the conversions of the options are now viable, so VRC should have at least 12 months of funding.

Like you said, the rewards of patience could be huge. That is the reward of holding a spec stock coming from a low base price, but .... the risks are also much higher and VRC is still a high risk stock!

Cheers