You could well be right. If you have read my multiple posts on...

You could well be right. If you have read my multiple posts on the sector in the past I think you would know that I don't believe that any of these large scale projects will get up.

I've been following the plight of QIN and an article in the Financial Review highlighted a research report by a "mystery group" called Viceroy Research which got the attention of a number of people as they came out with a report with a target price on the stock of ZERO.

When reading about them it was highlighted that at the end of last year they came out with their only other research report which is on SYR and they have a price target on it of 70 cents. I bring it up because their report shares similar views as to myself with regards to the macro outlook of the graphite sector and the challenges that lay ahead with regards to natural graphite and the battery sector. It contains an interesting comment from Elon Musk in a 2014 earnings call with regards to anode stability which is why I believe that Tesla and other EV manufacturers will stick with synthetic. It's well worth the read for anyone in the sector.

As for VRC I really am amazed that right now, with no financing in place and the shareprice at its lows that the managements first order of business IMO is to "reset themselves" with performance shares at lower hurdles. Is this a reward For all the hard work in Overseeing the shareprice from 15 to 3 and now effectively throwing the PFS in the bin after spending nearly $7.5 million in 9 months? Isn't this insulting to all the shareholders out there where a lot of them are sitting on significant paper losses and are waiting everyday for an announcement explaining how their company is going to continue to be funded and survive?

Surely coming out with this before coming out with a funding solution isn't very smart. I know one thing IMO I as a potential investor wouldn't be nor would I be wooed by all of "the elephants and rocket ships". I do note however that even in the revised presentation the cash balance and capital structures are omitted (a slide that is expected in any presentation).