The logic of the deal (diversification) is fine.
The price seems reasonable (with what is publicly known about the gold project, of course).
The capital raise is merely symbolic to keep management paid (a sad part of the game).
What is a tad more worrisome is the incestuous nature of the deal: "Company (VRC) has agreed to acquire all of the issued shares in Gold Republic Pty Ltd (Gold Republic), an Australian proprietary company controlled by Volt Chairman, Mr Asimwe Kabunga."
If the Gold Republic was this promising, why didn't Volt Chairman take the deal elsewhere? There is no altruistic generosity from anyone in this business.
If VRC wanted to diversify into gold, could it not find any other play that did not involve conflicted parties?
The logic of the deal (diversification) is fine. The price seems...
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