Ann: Grant of CEO Performance Rights and Appendix 3B, page-38

Bruce, spec companies and cr’s are joined at the hip prior to full funding or revenue, just a fact mate , VRC are not alone in that space. You have done some research on other companies so I am sure u understand that.
Tuff market currently, once upon a time granting of an ml or enviro would have sent the sp nuts , but today it’s more” show me the money !”
Imo, vrc will need some money to bridge the gap between now and mine funding, how that will look I am not sure but I don’t think it would be much. This was always going to be the case as the Tanz govt took soooooo f%#%n long to sort their sheet out , that’s just a cold hard fact and cannot be dismissed. I am still spewing about overpay tho.
The good thing is IF vrc get funding , the mine is easy build, good location , big resource close to surface and the graphite demand is there at a good price. Gl