No-one believes they can convert. Doesn't matter what's in the ground if they can't get it out.
The ZG mine just reinforces that view. Spent $5 million as a down payment lost another $4 million in cash since it started and still owe the vendors another $5 million. They are trying to get out of that by arguing that the mine is worthless which is probably true. What an AMAZING deal someone got us into. The opportunity to pour $1 million a quarter of shareholders funds in the abyss.
So if your current operating mine is a financial disaster its hard to convince people you wont make a pigs breakfast of an even bigger project.
Would you lend these guys money based on this lacklustre performance.
I don't see how there has been any good announcements if you take a balanced look.
Confirmation of a known deposit albeit bigger-
An offtake with a no name chinese company that we had years ago.
not much else. Just a slow bleed of funds and an obvious CR in the next 60-90 days.
- Forums
- ASX - By Stock
- VRC
- Ann: Feasibility Study Update for Bunyu Graphite Project Stage 1
Ann: Feasibility Study Update for Bunyu Graphite Project Stage 1, page-51
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add VRC (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.4¢ |
Change
-0.001(11.1%) |
Mkt cap ! $16.63M |
Open | High | Low | Value | Volume |
0.5¢ | 0.5¢ | 0.4¢ | $11.30K | 2.263M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
36 | 28648646 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 232858 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
36 | 28648646 | 0.004 |
20 | 16556068 | 0.003 |
13 | 16741525 | 0.002 |
13 | 47567000 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 232858 | 1 |
0.006 | 23437210 | 29 |
0.007 | 8147551 | 8 |
0.008 | 5395175 | 11 |
0.009 | 5271154 | 7 |
Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
Featured News
VRC (ASX) Chart |