Ann: CEO Update, page-31

l never said they won't get these...but when?....Do VRC actually meet the new Regs?...we don't know?...just because we applied obviously doesn't mean we automatically get a ML...and these hold-ups verify that.
Why is Environmental impact study taking so long?...is there something we dont know?...look what happened in outback Oz when rules tightened...some rare orchid or a rock painting held up projects for years!
What happens if cash runs out beforehand what happens then?...will punters take another bite at this stock...dilution?
And are these 'investors' still interested Bond raising after all this time, and time to come, or have they already parked their monie's elsewhere? Time is money....
So to answer your question...l can't... nobody can. We assume and hope they will...for far too long now tho...
'Regulators' in a country with a history of corruption, have a 'new-found' power now. There seems to be a new 'aire of governance' over the minerals in Tanzania since Laws changed... and now trying to implement these, cautiously it would seem, to the point Parliament will approve large scale operations...where does that put VRC going the 'whole-hog' in one application?
l often thought it would have been easier for Co to just to apply for small Op Stage One and go bigger S2 after Laws were 'settled-in...'easier to process ML and, we may not even need S2 by then as other suppliers build their plants...they're everywhere.
imo TM was even more 'blue-sky/horizon' and unconvincing/unsure than ever in that last interview.....he didn't sound like approvals were too close at all....
Time, hence salaries and office costs have burnt a lot of precious cash this year. If BoDs knew the processes and did the job they are highly paid to do then the Environmental Study submission should have been a major priority Q4 last year...not late Jan 2018 - 2 weeks before ML application on 8th Feb! Strewth. Hindsight is not 40-40 vision in this instance but another major tardy 'rubbery calendar' submission blunder by BoDs that may now impact this Co severely on many fronts, now and in the near future imo..... and 4 months to draft a Prospectus...muddle-puddle fiddle-fuddle....