B4 is correct, this is a desperate deal completed by a company who clearly did not have a better option. Putting the whole project at risk for $1 million of funding is a terrible outcome for shareholders and yet the usual posters are patting each other on the back like they have just won the lottery.
Companies rarely go into administration unless they have debt on the balance sheet. Volt now only has debt and a lender who can take the project if the company defaults. It's a warning sign that things are not going well.
Volt budgeted $1.6 million last quarter and they didn't do anything, no drilling, no met work, no new scoping study, nothing. Do you really believe they can get through the next 6 months on $1 million?
VRC Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held
