Ann: Change in substantial holding, page-40

I no longer have much interest in VRX as a potential investment. The final straw has been this latest circus of part-approvals of changes of the plans supposedly finalised in the BFS, abandoning the train links, and perhaps most critical of all, the possibility that Geraldton port will not be able to handle the tonnages of sand needed by VRX. What is the revised tonnage ? Who knows. Further, its looking like the mine area will also be scaled back due to environmental issues. But it appears to me the financial plan that was the BFS now needs to be radically revised. Maybe VRX will turn a profit, or maybe it won't. But this project/company has become far too risky for my liking. I'm keeping a tiny parcel of 88 shares just for old times sake. Maybe one day the SP will rise sufficiently for me to make a small profit on final exit, after broker fees. I was surprised today to see Delphi have increased their holding. Maybe they can see value here with present management that I cannot. Anyway, good luck to those still holding. This is definitely a stock to keep reviewing as a value proposition if you continue to hold.

All IMHO, DYOR