VRC

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0.4¢ volt resources limited

Ann: Non-Renounceable Rights Issue to Raise up to $1.25M, page-52

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18/12/19

15:26

Post #: 42032542
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Originally posted by stan101 ↑

I get that and have been following this. I am still confident that this will get across the lined but let's have an end of year review on where we stand.

Volt are paying or have paid Exotix to get funding across the line. This was back in 2018. Now where is the accountability on this. Exotix have had over 18 months to get their act together and both the Tanz And Mauritius exchanges have repeatedly asked for more data or reporting. Is this just incompetence or are Exotix just out of their league? Either way, these questions need to be raised to Volt management and they need to respond. What exactly are Exotix being paid for?

What does Stephen Hunt do for his money? What does that guy bring to the table? I have heard him speak and he is incoherent - struggling to put a sentence together fluently. Is he really out there on the phones every day looking for off take agreements? What fills his day?

The only thing that seems to be on the agenda is getting funding, so why have there been so many failures in putting forward proposals. What are the rest of the management team doing. If these consultants and management team are so skilled at what they do, why are they continuing to fail so miserably? And they have failed repeatedly. Let's not ignore that fact.

Why was it left to so late in the game to lodge with SEM? I understand it may have been seen by Tanz as Volt not being 100% if they attempted a double listing, but this is business. Why are the board not being held accountable for this?

With the amount of raisings, it might have been better to go directly to the market when the share price was higher to raise the funds directly. I mentioned that some time ago. Is it that difficult to conceive that 400 investors would have handed over $100k for a shot at something worthwhile? I would have. That leaves 399 other prospective buyers. Hindsight and all - I realise. But this surely should have been contemplated in due diligence.

I think it is time large shareholders started asking real questions of the lackluster performance of Exotix and the management team. As I said, I still believe this is viable but there are a lot of superfluous people involved but the way this funding farce has been allowed to drag on is appalling.

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Stan, Exotix are paid on performance only....ie. of they don't secure Funding for VRC....they don't earn a cent.

VRC Price at posting: 1.0¢ Sentiment: Buy Disclosure: Held
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Ann: Non-Renounceable Rights Issue to Raise up to $1.25M, page-52

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Ann: Non-Renounceable Rights Issue to Raise up to $1.25M, page-52

Top Stories

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