Ann: CEO Interview with Finance News Network, page-22

I thought I would give you guys a break this week, although to be fair I haven't had much time as I have been preparing for a big hulahoop competition in Berlin. Between practice and sewing sequins on my leotards there hasn't been time to analyze the graphite market.

Anyway, here we are at 30 June and still no funding announcement. The auditors will be having kittens about whether Volt is a "going concern." According to the VRC budget the company has no money and while I'm not sure what the tipping point is I think we can agree that Volt must be dangerously close to insolvency.

I watched the presentation from TM which had all the buzz words but very little in terms of substance. The PFS NPV got paraded out again although it's clear there is no strategy to actually achieve this production and we still don't know if stage 1 makes any money. With microscopic margins and a ludicrous 2% cutoff grade it's far from interesting. In fact it's expensive and clearly funding is an issue.