Let's start by being accurate with our numbers. VRC is only down...

Let's start by being accurate with our numbers. VRC is only down 15%, however GPX is still down 23% even after the price rise in the last few days.

Secondly, GPX has a market cap of $16 million, $1.5 million cash and no debt. Volt has a market cap of $27 million, no cash and $1.1 million of debt.

Thirdly, and most importantly GPX actually has an offtake with a subsidiary of CNBM following 21 months of negotiation, bulk testing and a PFS completed by the Chinese. Volt has a "co-operation agreement" or MOU which has no legal rights. So what exactly is SH going to announce? That the MOU is still in place? Additionally VRC has no mining license and cannot receive one currently.

If you want to compare VRC with GPX then Volt has a lot further to fall. At 1.5 cents it would have the equivalent enterprise valuation to GPX although Graphex is clearly significantly more progressed as a company.