In all due respects, the VRC directors have been hamstrung by...

In all due respects, the VRC directors have been hamstrung by the decision of the Tanzanian Government in 2017 to wipe all of the Mining Licences in the country and to start them all afresh! It has taken almost 12 months for the Government to start granting the licences again!

There isn't a lot that VRC could do without that piece of paper. It could not start the fundraising process, it could not relocate the inhabitants, it could not order equipment etc. But every other mining company in Tanzania has had the very same problem. They have been idle for about 12 months. Some have even pulled out of the country altogether!

Below is a list of Australian companies in Tanzania that have been severely impacted by the government's decision. Most have seen their share prices fall and they've all had to mark time! Some companies like VRC and WKT have seen their sp fall further since then.

Maybe VRC's BODs could have done better, but then the same could perhaps be said of the other 15 companies? Like other investors, I certainly am not happy with the sp, or the time it has taken to get to this point. But what could we have done about it? The timeline for granting of the Licences was certainly out of the Directors' hands. And exactly the same applied to WKT, they were hamstrung just like VRC!

But each to their own opinion. Whilst I'm not rapt in the performance of the BODs, your incessant vilification of them is getting ridiculous!

Your comment: ""maybe because this board has just announced itself, again, as a laughing stock", I believe is unwarranted, ridiculous and really pathetic!

No one expected VRC's sp to jump markedly today, It didn't when WKT announced their Mining Licence was granted either! 

Now is the time for the BOD to show their true worth! It is all systems go for launching the fundraising! If that is successful, then they need to follow their Mine plan and start the process of establishing a successful mine. 

I hope it all goes to plan and the BODs do a great job! The sooner that the mine is up and running the better for us all!

Performance of Australian Companies in Tanzania since the removal of Mining Licences (as at June 1st 2018)